New York – Williams Capital Group, a New York-based brokerage firm, is expanding its presence in equities for the second time in less than two years. The brokerage added six equity analysts last week, as it launched an in-house research department, according to Traders Magazine.
The analysts hired, and their respective sectors, include Richard C. Nelson from J. Giordano Securities, special situations; Marc Riddick from Riddick Consumer Strategies, consumer; Brian Bolan from Jackson Securities, Internet; Matthew Coppola from Atlantis Investment Co., media; Harry Russell from Northeast Securities, life science; and Joseph A. Naya from UBS Investment Bank, paper packaging and industrials special situations.
The analysts will cover all market caps, but will be focused on under-covered mid-cap stocks.
As we noted in our 2010 research industry recap, numerous other agency brokerage shops over the last year have also entered the business of providing content along with their execution services. For example, Instinet and Liquidnet both added management access services. Two agency brokers that have made particularly interesting moves are Liquidnet, which invested in OTR Global, and ITG, which bought Majestic Research and Disclosure Insight.
“Clients are under pressure to get as much as they can for their commission dollars,” said Matt Rochlin, who heads equities at Williams Capital. “For us to add value and to compete for those commission dollars, research is very important.”
Williams officials believe that research will increase commissions this year by 20 to 25 percent over 2010 levels. The firm declined to disclose equity trading revenue for 2010.