NW Capital Markets, Stern Brothers to combine public finance businesses

By Tali Rackner

Norfolk, Va., May 13 – NW Capital Markets and affiliate NW Financial Group announced an agreement in principal with Stern Brothers & Co. to combine their public finance business, according to a press release.

The agreement in principal calls for the professionals of NW Capital Markets and NW Financial to become employees of Stern Brothers.

Dennis Enright, principal of NW will be named vice chairman and have a seat on the Stern Brothers board of directors. NW's other principals, Dan Mariniello, Michael Hanley and Doug Bacher, will be managing directors and serve on the firm's management committee.

"This is about better serving our clients. Stern Brothers offers us an opportunity to expand our footprint and add new products that improve our capabilities. We are thrilled to become partners with a well-respected national firm and look forward to expanding our business together," Dennis Enright, founder and principal of NW, said in the release.

NP Capital is a Hoboken, N.J.-based regional broker dealer. Stern is a St. Louis-based investment bank.

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