Muriel Siebert & Co., Inc., a wholly owned subsidiary of Siebert Financial Corp. (Nasdaq: SIEB), today announced that Charles D. Sorkin and Dominic A. Antoniello have joined its Capital Markets Group as managing directors, effective immediately. Mr. Sorkin joins Siebert as an Investment Banker focused on Debt Capital Markets, while Mr. Antoniello joins the firm in the role of Taxable Fixed-Income Sales. “Charles Sorkin and Dominic Antoniello are both highly experienced veterans who further strengthen our capital markets team, as we provide excellent value and service to our esteemed issuer and institutional clients,” said Muriel F. "Mickie" Siebert, president, chief executive and chairwoman of Siebert Financial Corp. "Their extensive customer relationships and sound knowledge of the fixed-income markets will enable our continued expansion while providing the excellent service our valued clients have come to expect from us.” Mr. Sorkin is a seasoned capital markets professional with an extensive background of more than 15 years in the taxable fixed income market, five years of it at Siebert. Most recently he was with Magna Securities in New York. Mr. Sorkin is known for his customer-focused approach to both securities issuers and institutional investors, and will extend that approach to Siebert’s securities-issuing clients, while offering the comprehensive focus that they have come to expect from Siebert Capital Markets. Mr. Antoniello joins Siebert as a Fixed-Income Sales Trader. Most recently he was Managing Director and Head of Fixed-Income at Magna Securities. Mr. Antoniello has more than 35 years of fixed-income experience and possesses extensive knowledge of U.S. Treasury, federal agency, corporate, municipal and money market instrument securities markets. Mr. Antoniello enhances a trading desk of veteran professionals in the Siebert Capital Markets (SCM) division, which provides high-quality brokerage services to institutional clients and investment banking services to corporations. Backed by the latest information technology and systems, its traders and investment bankers offer value-added services to some of the nation’s largest investment managers, corporations and public retirement systems.
The SCM division continued to expand its business in 2009, acting as co-manager or underwriter in more than $115 billion of global debt and equity offerings. SCM participated in debt and equity transactions for dozens of U.S. companies in 2009, including Bank of America Corp., Boeing, Citigroup Inc., Dominion Resources, Inc., Ford Motor Company, Hyatt Corporation, JPMorgan Chase & Co., Morgan Stanley and PepsiCo, Inc. As a result of these underwritings, Siebert retail clients have access to new issue debt and equity securities including corporates, preferreds and more. On the institutional brokerage side, the trading department continues to bolster its electronic execution capabilities, resulting in a significant increase in its corporate share repurchase business.Siebert Financial Corp. is a holding company which conducts all of its brokerage operations through its wholly-owned subsidiary, Muriel Siebert & Co., Inc. (Siebert). The firm became a member of the New York Stock Exchange in 1967, when Ms. Siebert became the first woman to own a seat on the Exchange. The firm is also certified as a woman-owned business enterprise ("WBE"). In 1977, she took a leave from her firm to serve for five years as the first woman Superintendent of Banking for the State of New York. Siebert is based in New York City with additional retail branches in Boca Raton, West Palm Beach, Surfside and Naples, Florida; Beverly Hills, California and Jersey City, New Jersey. Siebert does not provide investment, tax or legal advice. Statements in this press release concerning the Company’s business outlook or future economic performance, anticipated profitability, revenues, expenses or other financial items, together with other statements that are not historical facts, are “forward-looking statements” as that term is defined under the Federal Securities Laws. Forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and other factors include, changes in general economic and market conditions, fluctuations in volume and prices of securities, changes and prospects for changes in interest rates and demand for brokerage and investment banking services, increases in competition within and without the discount brokerage business through broader service offerings or otherwise, competition from electronic discount brokerage firms offering greater discounts on commissions than Siebert, prevalence of a flat fee environment, decline in participation in equity or municipal finance underwriting, decreased ticket volume in the discount brokerage division, limited trading opportunities, increases in expenses, changes in net capital or other regulatory requirements. As a result of these and other factors, Siebert may experience material fluctuations in its operating results on a quarterly or annual basis, which could materially and adversely affect its business, financial condition, operating results, and stock price, as well as other risks detailed in the Company’s filings with the Securities and Exchange Commission. Although the Company believes that the expectations reflected in “forward-looking statements” are reasonable, it cannot guarantee future results, levels of activity, performance or achievements. Accordingly, investors are cautioned not to place undue reliance on any such “forward-looking statements,” and the Company disclaims any obligation to update the information contained herein or to publicly announce the result of any revisions to such “forward-looking statements” to reflect future events or developments. An investment in Siebert involves various risks, including those mentioned above and those, which are detailed from time to time in Siebert’s Securities and Exchange Commission filings. Copies of the company’s SEC filings may be obtained by contacting the company or the SEC.