News

WilmerHale Hires Berkowitz, Cahn

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WilmerHale has hired Dan Berkovitz and Mark Cahn, to enhance WilmerHale’s financial services and energy practices. Berkovitz has joined WilmerHale’s futures and derivatives practice after an extensive career in government, most recently as US Commodity Futures Trading Commission (CFTC) General Counsel. Cahn has rejoined the firm’s securities litigation and enforcement practice after his recent service as General Counsel of the Securities and Exchange Commission (SEC). Both are joining WilmerHale’s Securities Department, which offers enforcement, litigation and regulatory capabilities relating to the financial services industry, including securities, futures and derivatives.  

As CFTC General Counsel, Berkovitz was involved in implementing the Dodd-Frank Act and advised the Commission on expanding the CFTC’s enforcement program.

Legal
Rich Anslow

Anslow & Jaclin Calls It Quits

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Anslow & Jaclin, the New Jersey law firm that was once one of the most active firms providing securities counsel to Chinese companies seeking to go public in the U.S. via reverse mergers, is dissolving after 20 years, according to partners Richard Anslow and Gregg Jaclin. The partners made announcement in private meetings with colleagues and clients attending the Rodman & Renshaw Global Investment Conference in New York from October 8-10. Each stressed the dissolution of the partnership was amicable and that both attorneys would remain active in securities practice for small cap companies. Anslow will be joining the New York-based firm Ellenoff, Grossman & Schole, while Jaclin is joining Lawrenceville, N.J.-based Szaferman, Lakind, Blumstein & Blader, effective October 1. In an interview, Rich Anslow said the decision to dissolve his partnership with Jaclin was a difficult one, but was necessitated by the precipitous decline in the Chinese reverse merger market.

News

The Rat Race: Growth Capital Moves and Assignments

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As the bonus season approaches, the game of musical employment chairs continues at a variety of growth capital firms.

Investment bank and trader Craig-Hallum has made a dozen new hires, including some from recently shuttered ThinkEquity. The company said that while it's aware of market problems, it sees "an increased need for good ideas for our 600 plus institutional and corporate clients." The new hires were made in trading, banking, research and sales. The hires include executives such as former ThinkEquity sales trader Jon Ledwick and former ThinkEquity managing director Rajesh Ghai, who joins as senior research analyst. New York investment bank Duff & Phelps has brought in a new player for its healthcare banking team.

Deals

Rodman Team Moves on to Wall Street Access

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As DirectMarkets (MKTS) CEO Kevin Lupowitz resigned, a dozen Rodman & Renshaw equities traders left the firm to join Wall Street Access. Sales trader Dana Pascucci led the move, according to a Wall Street Access news release. Investment bank Rodman & Renshaw had hoped to reinvigorate its business with a new electronic platform developed by its DirectMarkets unit.Other senior team members joined with Pascucci including Vincent Pelosi, Senior Vice President of institutional sales and trading; and Dean Esposito, Patrick Clarke, and Gregg Bouwmans, Vice Presidents of institutional sales and trading. Staffers Joseph Grieco, Matthew Treacy, Thomas Ajello, James Fradella, Rob Trimble and Keith Knox have also joined. “Financial services firms are challenged right now, with many ultimately being forced to either restructure or exit the business,” Wall Street Access President of institutional sales and trading Sean Kelleher said in the release.