Raul Henriquez, executive chairman of Global Investor Services, has acquired a controlling stake in New York City-based Northeast Securities, an independent broker dealer. The transaction also includes registered investor advisory firms Northeast Asset Management and Benchmark Capital Advisors.
NEW YORK–(BUSINESS WIRE)–Raul Henriquez, a highly-regarded entrepreneur in the financial services sector and Executive Chairman of Global Investor Services (GIS), has acquired a controlling interest in Northeast Securities, Inc. Northeast Securities is a prominent U.S. independent broker-dealer serving both domestic and international clients. The acquisition, which also includes Registered Investor Advisor (RIA) firms, Northeast Asset Management (NAM) and Benchmark Capital Advisors, represents a total of $ 5.5 billion in client assets.
Pending regulatory approval, Henriquez plans to merge Northeast’s international business operations with Global Investor Services’. The combined effort will represent over $ 8 billion in customer assets, turning it into one of Pershing´s most important correspondent relationships focused on global customers.
“The acquisition of Northeast Securities provides a unique opportunity to consolidate the operations of two leading independent broker dealers focusing on Latin America, making the combined company the undisputed leader in the space,” said Henriquez. “With this timely acquisition, we assume a much stronger competitive position in the marketplace and are well poised for future growth. Additionally, Northeast’s presence in the U.S. domestic market is a distinct opportunity for diversification and future prospects.”
Until both international businesses merge, Northeast Securities and GIS will continue to operate independently, but in a coordinated fashion, with Henriquez assuming the chairmanship of Northeast Securities.
“I’m really looking forward to join forces with Raul and his team, as it’s truly a great fit. The synergies between the two companies are incredible. Ultimately, financial advisors and clients should benefit alike,” said Paul Duffy, Northeast Securities’ President.
“Raul has consistently proven himself to be a leader in the marketplace, and is always looking for opportunities to position GIS for success,” said Lisa Dolly, CEO of Pershing LLC, a BNY Mellon company. “Now, GIS and Northeast have a promising future together, and we are excited to be working with this talented team.”
About Northeast Securities, Inc.
Founded in 1989 in New York City, Northeast Securities is a prominent U.S. independent broker dealer with over $5.5 billion in customer assets, servicing domestic and international clients. Northeast has grown into a diversified financial services firm, offering institutional and retail brokerage, asset management, cash management and alternative investments. The firm also provides execution and clearing solutions for other broker dealers.
About Global Investor Services, LC (GIS)
Founded in 1989 and headquartered in Miami, GIS is an independent broker dealer with more than $2.5 billion in customer assets, that provides investors with access to global capital markets through a full array of products, services and support, all integrated into a seamless platform.
About Raul Henriquez
Raul Henriquez, Executive Chairman of GIS, is a highly-regarded entrepreneur who has built a $5-billion financial services conglomerate over the past three decades. Shortly after earning an MBA from the Wharton School of Business, he co-founded HENCORP and would later grow it into a diversified financial conglomerate encompassing brokerage, asset management, private equity, wealth management and corporate financing.
A Miami resident for over 35 years and El Salvador native, Henriquez is a staunch believer in helping children have access to proper health, nutrition and education. As such, he is a founding member and active director of the Salvadoran American Humanitarian Foundation. He has served as a trustee and investment committee member at the Ransom Everglades School, and is currently an active member of the investment committee for the Nicklaus’ Children Hospital.