Brinson Patrick Securities Establishes Equity Research Department with Addition of Analyst Michael Higgins
- Firm Also Expands Trading Team in Line with Significant Growth -
NEW YORK, Jan. 5, 2012 – Brinson Patrick Securities Corporation, a boutique investment bank that focuses specifically on at-the-market (ATM) offerings, today announced the establishment of an equity research department, pending regulatory approval, with the hiring of Michael Higgins as a life sciences analyst. Higgins has joined Brinson Patrick from Rodman & Renshaw, LLC, where he was a managing director and senior specialty pharmaceuticals analyst.
In addition, the firm announced the expansion of its trading desk with the addition of Timothy Studley, who has joined Brinson Patrick from Barclays Capital. Both additions reflect the firm’s recent and projected significant growth through the provision of its DOCS® (Dynamic Offering of Common Stock) ATM financing facility to REITs and companies in the life sciences industry.
“The establishment of our equity research department is an important component of our growth strategy,” said Todd Wyche, founder and managing director of Brinson Patrick. “Michael’s expertise will be critical in delivering research that is valued by the life sciences industry. Timothy’s experience is an important addition to our trading desk and continues our commitment to provide the best execution for our clients.”
Higgins has significant experience working with and covering life sciences companies. He spent ten years in the marketing department of Procter & Gamble Pharmaceuticals. Following Procter & Gamble, Higgins moved to equity research where he has been a research analyst for eight years. Besides Rodman & Renshaw, LLC, he has worked as an analyst with Dafna Capital Management, Wedbush Morgan Securities and an independent research firm he founded, 4sight Research Partners, LLP. Higgins has earned a four-star rating from StarMine for stock recommendation performance. He is most recognized for his coverage of “drug launch” companies as well as drug delivery technologies and patents.
Studley, previously worked as a sales trader in the electronic trading group at Barclays Capital where he advised institutional buy-side firms on algorithmic trading strategies and optimal electronic trade execution. Prior to Barclays Capital, Studley worked for Lehman Brothers, where he focused on establishing trading connectivity for hedge funds, mutual funds, and pension funds.
In conjunction with these growth initiatives, Brinson Patrick promoted its head trader, Nino Jimenez, CFA, to managing director. Mr. Jimenez has over twenty-five years of industry experience, the last ten with Brinson Patrick. He created the firm’s electronic trading infrastructure, including algorithmic trading programs, resulting in greater efficiency and trading capacity for the firm and better executions for clients.
“The growth in experience at Brinson Patrick further exemplifies our plan of continuing success in 2012,” added Wyche. “We look forward to leveraging our increased expertise to helping clients develop successful financing strategies. Our DOCs ATM financing vehicle enables our clients to better control when capital is raised and to have a lower cost of capital compared to traditional financing vehicles.”
About at-the-market offerings
ATM offerings provide an efficient means of raising equity capital over time, making them ideal for raising general working capital, funding specific projects, funding research and development and paying off debt. ATM offerings provide flexibility, efficiency, control, discretion and just-in-time capital with minimal dilution of stock when managed by an experienced ATM underwriter. With an ATM, an exchange-listed company incrementally sells newly issued shares into the trading market through a designated broker-dealer at prevailing market prices, rather than via a traditional underwritten offering of a fixed number of shares at a fixed price all at once. ATMs enable publicly-traded companies to tap into the existing secondary market for shares on an as-needed basis.
About Brinson Patrick Securities Corporation
Brinson Patrick Securities Corporation is a boutique investment bank that employs a single financing tool − DOCS® (Dynamic Offering of Common Stock) at-the-market (ATM) financing facility − to raise the capital for clients as they need it.
The DOCS® ATM is a low-profile equity offering appropriate for publicly traded companies across multiple industries and market capitalizations. It has been successfully utilized by companies in the energy, life science, technology, real estate, financial services and hospitality industries with market capitalizations that range from $50 million to over $1 billion.
For more information, visit http://www.brinsonpatrick.com.
Brinson Patrick is a FINRA member broker-dealer.
EDITOR’S NOTE: Visit http://www.brinsonpatrick.com/news/media-kit/ to access Brinson Patrick’s fact sheet.
Robert Flamm, Ph.D.
and David Schull