First Empire Securities Bolsters Trading Desk, Continues Growth

HAUPPAUGE, NY--(Marketwired - February 10, 2016) -  First Empire Securities, a national fixed income broker-dealer, announced the addition of several senior traders and sales professionals as the firm continues to build out its institutional investment capabilities.

"In pursuing our national growth strategy, we are committed to exploring all prospective business opportunities, including strategic acquisitions, that could enhance our institutional platform," said Stephanie Rella, chief operating officer at First Empire Securities.

The new additions include Neal DeBonte, formerly a municipal trader at Raymond James, and Richard Liao, formerly an agency mortgage-backed securities trader at Société Générale. The firm also added veteran sales professionals James Heald, Terry Curry and Jerry McFarland in its Chicago office, Mike Jarmolowich in the Chatham, New Jersey office, and corporate sales-trader Thomas Kramer in New York.

"As the industry landscape changes, we are hiring experienced fixed income professionals from across the U.S. with great reputations, established relationships and proven track records," said Joseph Oricoli, managing director at First Empire Securities. "Neal, Rich and the others fit that profile and will undoubtedly be an asset to the institutional investors we serve."

DeBonte, who joined First Empire in late November, is a highly respected trader in the municipal bond market and will lead the firm's tax-exempt broker-dealer municipal trading. He is the latest addition to the firm's municipal trading group. In early November, the firm announced the arrival of Guy Spieler to start up and lead its competitive new-issues underwriting business.

Prior to his tenure at Raymond James, DeBonte managed a $1 billion municipal arbitrage account for the German lender WestLB. He also served as the managing director responsible for all municipal commitments at First Chicago/BancOne.

Liao joined the firm in December and previously served as the director of agency MBS pass-through trading at Société Générale. He also had successful tenures trading mortgage-backed securities at RBC Capital Markets and BNP Paribas. Since arriving to the firm, he has expanded the firm's fixed income distribution with tier-1 accounts.

About First Empire Securities

First Empire Securities, a national fixed income broker-dealer, and its affiliate companies, LPC Services, Balance Sheet Management Services and First Empire CD Management, have been committed to helping institutions make well-informed investment decisions and better manage their balance sheets for the past 30 years. These companies provide a range of services for institutional investors, including fixed income investing, loan participations, risk management, regulatory consulting and funding strategies. First Empire Securities is a member of FINRA and SIPC. Its affiliate companies are not members of FINRA or SIPC.