NEW YORK — Investment banking firm Financo Inc. on Tuesday added three managing directors to its ranks.
According to Colin Welch, president and chief operating officer, the two additions and one promotion reflect the firm’s broadening of its core retail and advisory services, an internal mandate that includes a push into more cross-border transactions and the build out of its European operations.
Of the three named to the position of managing director, two are new to the firm. Vennette Ho, who joined the firm in 2004, was promoted to managing director and will continue to build the firm’s personal care and beauty practice.
Timothy Dahms and Audrey Kirdar are the two who have joined the firm as managing directors.
Dahms joined Financo Oct. 2 and was formerly at Moelis & Co. He will lead Financo’s expanded advisory practice into hard goods retailing, discount retail, sporting goods and athletic footwear and apparel.
Kirdar will join Nov. 5. While she will be responsible for the apparel specialty retail, wholesale apparel and department store categories, her expertise in mergers and acquisitions will also involve cross-border transactions and the build out of Financo’s European operations. Kirdar most recently was at Rothschild Inc.
Welch said he continues to search for bankers to add to Financo’s roster to expand into new subverticals, such as food and beverage and restaurants.
As for overseas, Welch said, “The immediate next step is to build up Europe….It is clear to us that the [development of a] deal pipeline and the likelihood of success increases once we have a firmly established physical presence on the ground.”
According to Welch, Financo has 25 active mandates that involve either a European-based buyer or seller. He is also interviewing candidates who can head up the new European base of operations in London, as well as keeping an eye on possible branch offices down the road.
As the firm focuses on adding staff and bankers — from senior officers in an advisory capacity to perhaps a high-profile, non-executive director — Welch disclosed that there are also opportunities for expansion in Asia and Latin America, moves that will give the Financo brand a “global point of view that is increasingly valued by its client base, whether private equity or corporate clients.”
The firm is hoping to have its London office up and running by the middle of next year.