Hoboken Finance Firm Agrees to Tentative Merger with Stern Brothers

NW Capital Markets, a Hoboken-based financial advisory and municipal bond underwriting firm, and Stern Brothers & Co., a privately held, woman-owned investment bank based in St. Louis, Missouri, announced a tentative merger agreement for their public finance businesses on Wednesday.

According to a release, NW Capital Markets – which has headquarters in Hoboken - is a regional broker dealer with a 19-year history of underwriting municipal bond issues for local governments and agencies.

Stern Brothers & Co., founded in 1917, is the largest woman owned remarketing agent in the U.S. with a portfolio of over $3.5 billion. The firm is also wholly woman-owned and certified as a Woman Business Enterprise.

Both firms will continue to serve their clients independently until the combination is finalized, according to a release.

The agreement in principal calls for the professionals of NW Capital Markets and NW Financial to become employees of Stern Brothers & Co. Dennis Enright, principal of NW, will be named vice chairman and have a seat on the Stern Brothers & Co. Board of Directors. NW’s other principals - Dan Mariniello, Michael Hanley and Doug Bacher - will be managing directors and serve on the firm’s management committee.

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