Businessweek

debt financing for emerging growth and middle market companies and financial sponsors. It focuses on structuring and distributing public and private debt in leveraged finance transactions, including leveraged buyouts, acquisitions, growth capital financings, recapitalizations, and Chapter 11 exit financings. The company specializes in high yield debt, and fixed and floating-rate senior and subordinated debt offerings. EQUITIES CAPITAL MARKETS Institutional Equity Sales and Trading The company provides equity market execution and market making services in various major U.S. exchanges and alternative execution venues, capital markets/origination, risk arbitrage, statistical arbitrage, special situations, pair trades, relative value, and portfolio and electronic trading. In addition, it offers a suite of quantitative and algorithmic trading solutions, as well as access to liquidity to access the global markets. The company’s clients include domestic and international investors, such as investment advisors, banks, mutual funds, insurance companies, hedge funds, and pension and profit sharing plans. These investors purchase and sell securities in block transactions, the execution of which requires focused marketing and trading expertise. Equity Research The company employs approximately 37 senior analysts covering approximately 600 equity securities worldwide, and approximately 70 dedicated equity research sales professionals. It provides regular research reports, notes, and earnings updates, and sponsors various research conferences where the management of covered companies could meet with investors in a group format, as well as in one-on-one meetings. The company also arranges for company managements to meet with interested investors through arranged meetings wherein the management representatives travel to various sites to meet with its representatives and with investors. Its analysts use various quantitative and qualitative tools, integrating field analysis, proprietary channel checks, and ongoing dialogue with the managements of the companies they cover to produce reports and studies on individual companies and industry developments. In addition to providing fundamental analysis, the company also provides technical analysis. Equity Options and Derivatives The company offers equity and index options for investors seeking to manage risk and optimize returns within the equities market. Its experienced professionals have expertise in listed and over-the-counter transactions and products. In addition, the company focuses on serving various needs of its institutional, corporate, and private client base across multiple product lines, offering listed and OTC options. Convertible Bonds The company commits dedicated personnel to serve the convertible markets, offering expertise in the sales, trading and analysis of U.S. domestic and international convertible bonds, convertible preferred shares, warrants, and structured products. In addition, it offers hedged (long convertible bonds and short equities) positions to its clients on an integrated trade basis. Event Driven Sales and Trading The company has a dedicated team focused on providing specialized advice and trade execution expertise to institutional clients with an interest in investment strategies, such as merger arbitrage; Dutch tender offers; splits and spin-offs; and recapitalizations and corporate reorganizations. DEBT CAPITAL MARKETS The company, through its Debt Capital Markets business, participates, with other members of loan syndications, in providing financing commitments under revolving credit facilities in leveraged financing transactions. Fixed Income- High Yield & Securitized The company trades non-investment grade public and private debt securities, mortgage-backed securities, sovereign and corporate debt of industrialized and emerging market countries, and distressed securities both for its own account, as well as for institutional clients qualified to sustain the risks associated with such securities. It also publishes research with respect to various such securities. These securities are unsecured and are subordina