Avondale Partners, a boutique investment bank headquartered in Nashville, is establishing a beachhead in New York.
The firm brought on an analyst from Royce & Associates and a research salesman from BMO Capital Markets to spearhead the effort. It has not hired any traders yet.
Heading up the new effort is John Cuddeback, who was director of equity sales at BMO for 11 years, where he covered New York and Midwest accounts.
Also, leading the charge is Dana Lambert, who was an assistant portfolio manager at Royce. There he analyzed small cap stocks. In the past he worked in equities research at Lazard and Schroder & Co.
Avondale’s equity research product is central to the firm’s business model, the company said in a statement. It has a coverage list of approximately 160 companies across six major industry sectors. It serves as a market maker for over 200 stocks through its equity trading desk.
The firm has relationships with more than 400 institutional clients in the U.S., Canada and Europe, it said.
