Financo Inc. has hired Joel Glasky, a former managing director of J.P. Morgan, as head of its securities division.
In this new position, Glasky will be responsible for driving the growth of Financo's financing practice, including private placements, and helping companies find capital for acquisitions and expansion. Glasky will report to Gilbert W. Harrison, Financo's chairman and chief executive officer, and William S. Susman, Financo's president and chief operating officer.
"As the merchandising sector continues to grow, we are building Financo's securities division to help our clients maximize the potential of their brands at a national and international level," said Harrison.
"Joel has been doing this for decades and is very well known within the private placement community," Susman added. "He has enough seniority to catapult this business for us."
"We will be giving advice on how to structure transactions and in this very liquid market, how to get things done most efficiently with the best source of capital," Glasky said. "It's an environment where there's a lot of liquidity and where companies have a lot of choices. It's about matching the right investors with the right clients."
Prior to working at J.P. Morgan, Glasky was a managing director at Lehman Bros., where he directed private placement efforts.
In the past year, Financo has helped raise capital for Wet Seal, Wilsons Leather and other companies, and advised eToys Direct on its merger with BabyUniverse Inc. and eToys Direct Inc.
Financo has been steadily growing its team. Earlier this year, Steven H. Reiner was hired as managing director to head Financo's new West Coast office in Beverly Hills. Financo, based in New York, also has offices in London. The firm specializes in mergers and acquisitions, restructuring and private placements, and provides consulting and private equity services. Its focus is in retail and apparel, though it's also broadening its scope in the consumer products sector.
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