EF Hutton Completes Acquisition of Broker-Dealer Benchmark Investments, LLC
“When EF Hutton Talks, People Listen”
NEW YORK, NY, Nov. 30, 2023 (GLOBE NEWSWIRE) — via NewMediaWire – EF Hutton, an investment bank headquartered in New York, today announced the closing of the acquisition of its broker-dealer, Benchmark Investments, LLC, a provider of a range of financial services to institutional and retail clients.
The transaction closed on November 9, 2023, significantly expanding EF Hutton’s capabilities and leadership across public and private markets for its growing roster of clients, with all broker-dealer resources and operations to be held under the EF Hutton brand. Benchmark Investments, LLC name has been changed to “EF Hutton LLC.” Additional details of the transaction were not disclosed.
“This transformative acquisition is the next step in our evolution to help our clients’ ambitions prosper through a full spectrum of services,” said Joseph T. Rallo, Chief Executive Officer of EF Hutton. “Looking ahead, we are integrating broker-dealer operations and believe this transaction will enhance our current business lines with the capacity for larger deals and a broader client base, while also providing a platform to expand our business lines in the future. We continue to look for additional opportunities to bolster our services and strengthen our footprint, including the expansion of our retail business through our wealth management division,” concluded Rallo.
David W. Boral, President of EF Hutton, added, “Incorporating broker-dealer functions and services into the firm will bring a higher degree of streamlined operations and efficiency for our clients. This acquisition also provides us with additional independence that gives more control and transparency to the deal process from start to finish. Our improved end-to-end solutions will position clients for long-term success across IPOs, SPAC IPOs, follow-on offerings, secondary offerings, shelf takedowns, M&A, advisory, acquisition financings, pre-IPO financings, and more. We look forward to introducing middle market and emerging growth companies around the world to an expanded EF Hutton.”
About EF Hutton
EF Hutton is an investment bank headquartered in New York, NY that provides strategic advice and financing solutions to middle market and emerging growth companies. EF Hutton has a proven track record of providing superior strategic advice to clients across the globe in any sector, with unique access to capital from the USA, Asia, Europe, UAE, and Latin America.
EF Hutton continues to be a leader on Wall Street, having raised over $15.8 billion in capital across more than 265 transactions through a variety of product types. Since 2022, by deal count, EF Hutton has been #1 in SPAC issuance and #1 in US IPO issuance, per SPAC Insider and Bloomberg. Taken together, EF Hutton is one of the most active investment banks in the middle market space. For more information visit efhutton.com.
Contact
Joseph T. Rallo
Chief Executive Officer
590 Madison Avenue, 39th Floor
New York, NY 10022
info@efhutton.com
