NEW YORK, Nov. 11, 2013 /PRNewswire/ -- MLV & Co. announced today that Ron Ormand, Co-Founder and former Executive Vice President, Chief Financial Officer and Head of Capital Markets of Magnum Hunter Resources Corporation (NYSE: MHR), has joined the firm's Energy Investment Banking Group as a Managing Director. In addition, Mr. Ormand will also be a Principal in 1055 Partners, MLV's principal investment arm, where he will identify and assess merchant banking opportunities in the energy sector. Mr. Ormand will work out of the Houston office and focus his efforts on expanding the firm's investment banking and principal investment platforms in oil and gas and other energy related industries. Working closely with Seth Appel and our existing Energy Team based in New York, Houston and New Orleans, Ron will assist in expanding MLV's platform in the energy sector.
"Our ability to successfully recruit a highly respected energy entrepreneur and executive like Ron reinforces MLV's commitment to building a top tier energy platform," said Dean Colucci, President of MLV. "Ron's extensive knowledge of the energy sector, market insight and industry relationships will complement the skills currently present on our energy team."
"Since working with Ron both at Magnum Hunter and previously as Head of U.S. Oil and Gas Investment Banking at West LB, it has been my goal to get him on our MLV team," Patrice McNicoll, founder and CEO of MLV, added. "He brings years of experience and an excellent track record in creating value as an energy executive and as investment banker. Ron possesses extensive knowledge of the upstream and midstream sectors of oil and gas as well as the broader energy spectrum. We know he will add tremendous value to our platform and our clients."Mr. Ormand commented, "I'm very excited to be working with such a creative and talented group of professionals at a firm committed to expanding its platform in the energy sector, particularly, as well as its other industry areas. MLV's unique and efficient approach to the capital markets and merchant banking, coupled with an entrepreneurial focus among its professionals, positions the firm extremely well for substantial growth. I look forward to working with Patrice, Dean, Seth and all of the professionals at MLV in growing a full-service energy investment and merchant banking platform."