Loeb Holding Corporation and its affiliated entities have announced a new leadership structure and a renewed focus on the company’s merchant banking roots. With immediate effect, James L. Kempner, son of current Chairman Thomas L. Kempner will become president of the Firm, with day to day responsibility for company operations and strategy. Thomas Kempner will remain chairman and CEO.
Loeb Holding Corporation and its affiliated entities, one of the last privately held independent investment banking enterprises on Wall Street, today announced a new leadership structure and a renewed focus on the company’s merchant banking roots. With immediate effect, James L. (Jamie) Kempner, son of current Chairman Thomas L. Kempner and great-grandson of Carl M. Loeb, founder of the company’s historical predecessors, Loeb Rhoades & Co and Carl M. Loeb & Co, will become President of the Firm, with day to day responsibility for company operations and strategy. Thomas Kempner will remain Chairman and Chief Executive Officer.
Jamie Kempner leaves his role as a long-time Senior Advisor and Managing Director at Lazard and brings with him over three-decades of experience in banking and capital markets transactions, particularly in the Transportation and Logistics industries.
“I feel honored to have the chance to lead and continue to grow Loeb, a firm with deep Wall Street roots and such a strong legacy, and intend to build upon the success and reputation we have quietly achieved over the last 32 years under my father’s leadership,” said Jamie Kempner. “I will leverage my experience to expand the family business beyond investing to create an enhanced financial advisory business.”
Assisting in the evolution of the company’s M&A business will be Said Armutcuoglu, who has been named Managing Director. Mr. Armutcuoglu spent nearly 17 years involved in the Mergers & Acquisitions, Restructuring and Capital Markets groups at Lazard. Throughout his banking career he has worked in many industry sectors including General Industrial, Technology, Media and Telecommunications and Consumer Goods.
“This is a significant milestone for our family-operated company and I am confident that with the considerable experience and expertise of James and Said, we are well positioned to continue to grow and guide our clients for many years to come,” said Thomas Kempner. “Our distinct and independent model of banking has been successful for 32 years. Now is the right time to bring our focus back to the firm’s historical strength in merchant banking. We are proud of our long-term client relationships and the freedom our firm has to invest alongside our clients, at times providing necessary growth capital.” Over this 32 year period, Loeb has made approximately 200 investments across a wide variety of industries.
Loeb recently relocated to a new, approximately 22,500-square-foot, home on the 14th floor of 125 Broad Street from its space on 61 Broadway.
About Thomas L. Kempner
Mr. Kempner’s grandfather Carl Loeb founded Carl M. Loeb & Co. in 1931, which would become one of the substantial Wall Street brokerage firms. In 1937, Carl M. Loeb & Co. became Loeb Rhodes & Co. after acquiring Rhodes & Co. Mr. Kempner began his business career working for his grandfather in September 1950, becoming a General Partner in January 1957. Loeb Rhoades & Co. incorporated in 1977 and he became an Executive Vice President. In 1978, Loeb Rhoades & Co, merged with Hornblower, Weeks, Noyes & Trask to form Loeb, Rhoades, Hornblower & Co. From January 1978 to December 1979, Mr. Kempner was Chairman of Loeb Rhoades Hornblower & Co. (“LRH”). On December 31, 1979, the operating business of LRH was sold. Mr. Kempner remained with the resulting entity, Loeb Holding Corporation (“LHC”). During the period from January 1, 1980 to the present, Mr. Kempner has been Chairman and CEO of LHC and from 1982, of its wholly owned subsidiary, Loeb Partners Corporation, a registered broker-dealer and registered investment advisory firm. Mr. Kempner is a director of Dyax Corporation (NASDAQ=DYAX) and Intersections, Inc., a credit management and identity theft protection company (NASDAQ=INTX). He is a graduate of The Choate School, Wallingford, Connecticut and Yale University, B.E.E. where Mr. Kempner was elected to and is a member of both the scientific Honor Society, Sigma Xi, and the engineering Honor Society, Tau Beta Pi.
About James L. Kempner
Mr. Kempner is President & Chief Operating Officer of Loeb Holding Corporation and President of Loeb Partners Corporation. Mr. Kempner began his career at Lazard, in 1983 and was named a General Partner in 1993. Mr. Kempner has been involved in banking and capital markets transactions and managed Lazard’s Corporate Finance department from 1995-1998. His most recent role was as Senior Advisor in the general industrials banking group, with emphasis on companies in the Transportation and Logistics industries. Mr. Kempner also served on the Underwriting and Private Placement Committees of Lazard. Mr. Kempner advised the Special Committee of Overseas America on its sale to OSG, advised UTI on its Initial Public Offering, Navios Maritime on its sale to International Shipping Enterprises, SuperValu on its acquisition and sale of Total Logistics, New Breed on its sale to Warburg, Pincus, Heidmar on its sale to Morgan Stanley Capital Group, the Special Committee of Swift Transportation on its acquisition of Central Refrigerated and Cardinal Logistics on its sale to Centrebridge. Outside of the Transportation Industry, Mr. Kempner has advised Intersections Inc. (NASDAQ=INTX), on its Initial Public Offering, MasterCraft on its sale to TRP and Charlesbank and FuelCell Energy (NASDAQ=FCEL) on its acquisition of Global Thermoelectric. He is an Advisory Board Member of Mount Sinai Health Systems, a Board Member of Onion Crunch, Inc. (Private Condiment Company), and serves on the Board and Executive Committee of Intersections Inc. Mr. Kempner is also a Trustee of the James Loring Johnson 1944 Trust. Mr. Kempner received a B.A. from Yale University and an M.B.A. from Harvard University.
About Said Armutcuoglu
Mr. Armutcuoglu joined Loeb Partners as a Managing Director in 2009 focusing on advisory and principal investment activities. Mr. Armutcuoglu began his career at Lazard in 1992 in the Chicago office and moved to Lazard’s New York office in 1994. He was named a Managing Director in 2005. Mr. Armutcuoglu was involved in the Mergers & Acquisitions, Restructuring and Capital Markets groups throughout his career at Lazard. He was involved in various industry groups throughout his banking career including General Industrial, Technology, Media and Telecommunications and Consumer Goods. Mr. Armutcuoglu received a B.A. from the University of Chicago in 1992. He speaks English, Turkish, French and German.
Founded in 1931, Loeb is one of the last privately held independent investment banking enterprises on Wall Street. Loeb’s businesses are comprised of investment banking services including M&A, restructuring and capital markets; private equity investments; asset management; and alternative asset management through its affiliate Loeb King Capital Management (www.loebking.com). Loeb Partners Corporation is the investment banking and registered broker-dealer business of Loeb Holding Corporation.