David Stith has joined Cantor Fitzgerald as a managing director, head of leveraged finance and head of financial sponsor coverage. He previously was a managing director in Merrill Lynch’s leveraged finance group.
Cantor Fitzgerald announced today that David Stith has joined its Investment Banking Group as Managing Director, Head of Leveraged Finance and Financial Sponsor Coverage. Mr. Stith joins Cantor’s growing investment banking practice that is expected to add approximately 50-70 bankers over the next 12-18 months to specifically target middle market clients.
Mr. Stith has over 25 years of industry experience, most recently with Merrill Lynch & Co. where he was a Managing Director in the Leveraged Finance Group. Mr. Stith will be responsible at Cantor Fitzgerald for originating, structuring, marketing and executing leveraged finance transactions and covering financial sponsors’ clients.
While at Merrill Lynch, Mr. Stith worked on some of their largest leveraged finance transactions, including Freeport-McMoRan’s $25.9 billion acquisition of Phelps Dodge, Hertz Corporation’s $15.5 billion leveraged buyout by a consortium of private equity firms and the largest buyout of a for profit education company, Education Management Corporation for $3.4billion.
Mr. Stith also previously held positions at Bear Stearns and Bank of America. Mr. Stith received an MBA from Harvard Business School.
“I am very pleased that David has joined our growing team. As we further develop our Leveraged Finance Team David’s skills, experience and relationships will add strength to our group and enable us to achieve even greater market presence,” said Shawn Matthews, CEO, Cantor Fitzgerald & Co.
Mr. Stith stated, “I am proud to have the opportunity to join Cantor Fitzgerald and play a leading role in building its middle market investment banking effort. The firm’s terrific legacy in the fixed income market provides a superb basis for a natural progression to provide our clients with even more valued- added services.”
Cantor Fitzgerald added nearly a hundred sales and trading professionals in 2008 and another 125 new strategic hires since the first of this year to its Debt Capital Markets Group and is continuing to grow the fixed income, equity and investment banking businesses.
About Cantor Fitzgerald
Cantor Fitzgerald, a leading global financial services firm has been a proven and resilient leader for over 60 years. The Cantor Fitzgerald franchise includes institutional debt and equity sales and trading, investment banking and real estate private equity, as well as other businesses and ventures.
The firm’s Debt Capital Markets business is a world-class dealer across a broad spectrum of fixed income products. Known for its personal commitment to clients and excellence in providing liquidity and transaction execution, Cantor Fitzgerald Debt Capital Markets offers services in repo and securities lending, mortgage-backed and asset-backed securities, corporate bonds, interest rate products, agencies, SBA securities and structured products. Cantor’s Debt Capital Markets group serves over 4000 fixed income customers worldwide.
Cantor Fitzgerald’s Investment Banking division focuses on providing capital raising and advisory services to growth oriented companies. The group’s structuring and distribution capability is focused on addressing innovative solutions to complex issues and challenges for clients across the globe.
The Equity Capital Markets business is a recognized leader in the global third market. Its professionals operate in major markets around the world providing solutions that address clients’ requirements for execution, return optimization and risk management. Cantor Fitzgerald Equity Capital Markets offers services in domestic and international equities, derivatives, convertibles and structured products, stock loan, and contracts for difference, as well as investment banking and research. Cantor’s Equity Capital Markets group serves more than 5000 major institutional investors and corporations worldwide.
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