DALLAS--(BUSINESS WIRE)--
Hilltop Holdings Inc. (NYSE:HTH) (“Hilltop”) announced today the
successful merger of its broker-dealer subsidiaries First Southwest
Company LLC and Hilltop Securities Inc. (formerly Southwest Securities,
Inc.). The new combined firm will operate as HilltopSecurities and
remain headquartered in Dallas, Texas.
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Hill A. Feinberg, chairman and CEO of HilltopSecurities and Robert W. Peterson, president and COO of HilltopSecurities (Photo: Business Wire)
The merger is the culmination of a process that began in January 2015
with Hilltop’s completed acquisition of Dallas-based SWS Group, Inc.,
the parent company of Southwest Securities. During 2015, both companies
worked diligently to achieve FINRA and other regulatory approvals for
the eventual merger of the broker-dealers, and in October 2015 Southwest
Securities adopted the HilltopSecurities name in preparation of
completing the merger.
The merger brings together two respected firms with deep roots in Texas
and more than 100 years of combined history in the financial services
industry. With the completion of the merger, they are building on this
legacy to create a new, stronger company. In addition to its new name,
HilltopSecurities features new branding throughout the organization,
including a new logo, a new website at HilltopSecurities.com, new
marketing materials and new signage that is being rolled out in its
offices across the country during the months ahead.
“We are excited to complete the merger of FirstSouthwest and legacy
Southwest Securities, marking an important milestone on our path toward
building a leading regional broker-dealer with an expanding national
presence,” said Jeremy Ford, CEO of Hilltop Holdings.
“HilltopSecurities’ cohesive leadership team and experienced employees
are well-positioned to carry out the strategic vision for the new firm.”
The new firm is led by Hill A. Feinberg, former chairman and CEO of
FirstSouthwest, who will serve as chairman and CEO of HilltopSecurities,
and Robert W. Peterson, former president and CEO of Southwest
Securities, who will serve as president and COO of HilltopSecurities.
John R. Muschalek, formerly head of correspondent clearing and
securities lending at FirstSouthwest, will serve as HilltopSecurities’
Chief Administrative Officer, and J. Michael Edge, former CFO of SWS
Group, will serve as CFO of the new firm.
With approximately 1,000 employees in more than 50 offices across the
United States, HilltopSecurities provides a full range of financial
guidance, services and solutions. The firm serves public and private
institutions, issuers and investors through six primary business lines:
- Public Finance, led by Jack Addams and David Medanich. Mr.
Addams has been with FirstSouthwest for 15 years and Mr. Medanich has
been with FirstSouthwest for 34 years.
- Capital Markets, led by Daniel Leland. Mr. Leland has been with
legacy Southwest Securities for 20 years.
- Retail Brokerage, led by David Geschke. Mr. Geschke has more
than 28 years of private client wealth management experience and has
been with legacy Southwest Securities since April 2015.
- Structured Finance, led by Michael Marz. Mr. Marz has been with
FirstSouthwest for 22 years.
- Clearing Services, led by Lana Calton. Ms. Calton has been with
legacy Southwest Securities for 23 years.
- Securities Lending, led by Lisa Palmeri. Ms. Palmeri has been
with legacy Southwest Securities for 13 years.
“This is the beginning of a new chapter for our combined firm,” Mr.
Feinberg said. “The completion of our merger propels us into a future
filled with opportunity for our clients, our employees, our company and
our community. We look forward to continuing to serve as trusted
advocates for our clients, delivering the guidance, solutions and
services they need to help them achieve their definition of success.”
About Hilltop Holdings
Hilltop Holdings is a Dallas-based financial holding company. Through
its wholly owned subsidiary, PlainsCapital Corporation, a regional
commercial banking franchise, it has two operating subsidiaries:
PlainsCapital Bank and PrimeLending. Through Hilltop Securities Inc. and
Hilltop Securities Independent Network Inc. it provides a full
complement of securities brokerage, institutional and investment banking
services in addition to clearing services and retail financial advisory.
Through Hilltop Holdings’ other wholly owned subsidiary, National Lloyds
Corporation, it provides property and casualty insurance through two
insurance companies, National Lloyds Insurance Company and American
Summit Insurance Company. At September 30, 2015, Hilltop employed
approximately 5,400 people and operated approximately 425 locations in
44 states. Hilltop Holdings' common stock is listed on the New York
Stock Exchange under the symbol "HTH." Find more information at
Hilltop-Holdings.com, PlainsCapital.com, HilltopSecurities.com,
Primelending.com and Nationallloydsinsurance.com.
About HilltopSecurities Inc.
Hilltop Securities Inc., a member of NYSE, FINRA and SIPC, is a
full-service financial services firm and registered investment adviser
headquartered in Dallas, Texas, with offices across the United States.
The firm’s areas of focus include public finance; municipal and taxable
fixed income underwriting, sales and trading; equity and portfolio
trading; retail brokerage services; securities clearing; structured
finance; corporate finance; and securities lending. A wholly owned
subsidiary of Hilltop Holdings Inc., HilltopSecurities’ affiliates
include Hilltop Securities Independent Network Inc., PlainsCapital Bank,
PrimeLending and National Lloyds Corporation.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160125005360/en/
Investor Relations Contact:
Hilltop Holdings Inc.
Isabell
Novakov, 214-252-4029
inovakov@plainscapital.com
or
Media
Contact:
Hilltop Securities Inc.
Ben Brooks, 214-859-6351
Ben.Brooks@hillltopsecurities.com
or
Hilltop
Holdings Inc.
Carol Towne, 214-252-4142
ctowne@plainscapital.com
Source: Hilltop Holdings Inc.