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News Press Releases and Articles
Press Releases
June 2010
Hudson Securities Enhances Cross Border Capabilities With Strategic Hires and Expanded Service Offerings PR Newswire (June 22)
JERSEY CITY, N.J. (June 22, 2010) – Hudson Securities, Inc. has enhanced its international capabilities to complement and support the growth of its established Cross-Border Investment Banking Group.
Frank J. Drazka, who joined Hudson Securities last month as Head of Investment Banking, leads the firm’s six-member Cross-Border Investment Banking Group, which focuses on raising capital in the U.S. market for Chinese and other non-domestic corporate clients. The firm’s activities in Asia and in particular China are spearheaded by Dick Price, a Managing Director with more than seven years of experience serving Chinese companies. Mr. Price joined Hudson Securities in March 2009.
Hudson Securities offers a range of investment banking services to non-U.S. companies including public and private placements of debt and equity, exchange listings, M&A advisory and restructuring. The firm has recently completed transactions for Chinese and Australian clients in industries including industrial technology and consumer products.
“We have enhanced our international capabilities and bolstered our team with strategic hires to take advantage of what we see as a tremendous opportunity to establish Hudson Securities as a leader in serving the needs of overseas companies and their investors,” said Anthony M. Sanfilippo, Chief Executive Officer of Hudson Securities. “Our platform has expanded to provide an array of services and solutions to address growing investor interest in undervalued and growth companies outside the U.S.”
Julie Chen joined Hudson Securities in July 2009 as a Senior Equity Research Analyst covering micro- and small-cap companies based in China. She initiated coverage in January 2010 and currently follows companies in a range of industries from steel to pharmaceuticals to paper. Prior to joining Hudson Securities, Ms. Chen was a Senior Research Analyst covering China at CRT Capital Group, Brean Murray Carret & Co., and New York Global Securities.
Additionally, Tom Higgins joined Hudson Securities in March 2010 as Managing Director and Head of Global Corporate Services. In this role, he oversees the firm’s participation in the OTCQX’s Principal American Liaison (PAL) program. Hudson Securities is one of 10 FINRA member firms to be designated a PAL by the OTCQX, the highest tier of the over-the-counter market in the U.S. As a PAL, Hudson Securities provides a range of services to non-U.S. companies listed on international stock exchanges, such as certifying their listing on OTCQX, making a market in their securities and coordinating marketing and investor meetings.
Further to the expansion of its cross-border capabilities, Hudson Securities recently established strategic partnerships with two subsidiaries of Close Brothers Plc – UK-based Winterflood Securities and Close Brothers Seydler Bank AG, based in Germany – to market UK and Continental European equities and fixed income products to U.S. institutional investors. Hudson Securities also serves as the U.S. point-of-contact for placement in primary and secondary transactions of Close Brothers Seydler Bank AG.
Hudson Securities, Inc. a subsidiary of Hudson Holding Corporation (OTC Bulletin Board: HDHL) provides a full range of corporate finance, advisory, and capital markets services and institutional equity research focused on the small and mid-cap marketplace. Hudson Securities, Inc. is dedicated to meeting the liquidity needs of its clients by providing execution solutions and making markets in over 15,000 U.S. and foreign securities. As a registered broker-dealer under the Securities Exchange Act of 1934, Hudson Securities is a member of the Financial Industry Regulatory Authority (“FINRA”).
Media Contact:
Josh Passman
CJP Communications
212.279.3115 x203
jpassman@cjpcom.com
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Hudson Securities Expands Investment Banking Group With Two Senior Hires PR Newswire (June 16)
JERSEY CITY, N.J., June 16 -- Hudson Securities, Inc. announced today the expansion of its investment banking division with the appointment of Steve Bonebrake and John Lipman as Managing Directors. Both Mr. Bonebrake and Mr. Lipman will report to Frank J. Drazka, Head of Investment Banking.
Mr. Bonebrake joins the firm's Corporate Finance Group, where he will leverage his global capital markets and investment banking expertise by focusing on corporate client coverage. Mr. Lipman joins the firm's Private Capital Group, where he will focus on the execution of financings for emerging growth companies through the placement of PIPEs, registered direct offerings and private placements of debt and equity.
"The addition of Steve and John extends our reach in the corporate client community and strengthens our product offerings," commented Mr. Drazka. "We will continue to add talented professionals whose relationships and depth of experience will add significant value for our clients."
"Building upon the firm's legacy trading and market making capabilities, Hudson Securities is in a position to capitalize on opportunities and talent in the marketplace to grow our investment banking, equity research and sales & trading teams," stated Anthony M. Sanfilippo, Chief Executive Officer of Hudson Securities.
Mr. Bonebrake joins Hudson Securities from Pali Capital where he was a Managing Director and led the firm's capital markets initiatives to serve the private placement needs of public companies. Previously, he was a Managing Director and Head of the Equity Capital Markets Group at SMH Capital, Inc., and before that served as Managing Director and Head of the European Technology Group of SG Cowen. Earlier in his career, Mr. Bonebrake was with Lehman Brothers in Singapore and Hong Kong where he led the firm's investment banking efforts in the TMT sector for Southeast Asia. He holds a BA in Economics and Art History from Northwestern University and a MBA from Northwestern's Kellogg School of Management.
Mr. Lipman joins from EarlyBirdCapital, Inc., a boutique investment bank serving the small-cap markets, where he was a Managing Director. Prior to his tenure at EarlyBirdCapital, Mr. Lipman was Founder and Chairman of Carter Securities LLC, an investment bank focused on PIPE transactions in the healthcare, life sciences and technology industries. He received a BA in Economics from Rollins College in Winter Park, FL.
Hudson Securities, Inc. a subsidiary of Hudson Holding Corporation (OTC Bulletin Board: HDHL) provides a full range of corporate finance, advisory, and capital markets services and institutional equity research focused on the small and mid-cap marketplace. Hudson Securities, Inc. is dedicated to meeting the liquidity needs of its clients by providing execution solutions and making markets in over 15,000 U.S. and foreign securities. As a registered broker-dealer under the Securities Exchange Act of 1934, Hudson Securities is a member of the Financial Industry Regulatory Authority (“FINRA”).
Media Contact:
Josh Passman
CJP Communications
212.279.3115 x203
jpassman@cjpcom.com
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Hudson Securities Opens Cleveland Office; Expands Equity Research Sales Effort With Two Senior Hires PR Newswire (June 3)
CLEVELAND, OH AND JERSEY CITY, NJ (June 3, 2010) – Hudson Securities, Inc. announced today the opening of a new office in Cleveland and the addition of two senior professionals to its established equity research sales team. Dan Hyland joins as a Managing Director and Eric Smith joins as a Senior Vice President.
Mr. Hyland and Mr. Smith will assist with expanding the geographic presence of Hudson Securities’ equity research sales team. Together, they bring more than 25 years of experience serving institutional accounts based in the Midwest, mid-Atlantic and Southeast regions, as well as in Texas.
As part of the firm’s strategy to expand its equity research team, the additions of Mr. Hyland and Mr. Smith will help support the growth of Hudson Securities’ integrated platform and bring short- and long-term investment opportunities to institutional investors. Currently, Hudson Securities’ research team includes five analysts providing coverage of nearly 50 companies. The firm plans to add at least five more analysts and provide coverage of 150 stocks by the end of 2010.
"Opening an office in Cleveland aligns with our continued effort to seek quality talent to augment our trading, research and sales teams,” stated Anthony M. Sanfilippo, Chief Executive Officer of Hudson Securities. “Through Dan’s and Eric’s strong relationships and expertise, investors across several regions will have access to the insights and ideas of our growing research product.”
Prior to joining Hudson Securities, Mr. Hyland founded and served as President of Hyland Investor Services, Inc., which provides institutional investors based in the Midwest with corporate access to management teams of small-cap companies. He previously spent 16 years at KeyBanc Capital Markets Inc. (formerly McDonald Investments Inc.), where he served as a Senior Vice President in Institutional Equity Sales covering the Midwest. Mr. Hyland holds a BS in Business Administration from the University of Dayton.
Mr. Smith joins Hudson Securities from KeyBanc Capital Markets Inc. where he was a Director in Institutional Equity Sales. During his 10 years at KeyBanc, Mr. Smith covered several top-tier institutional accounts in the mid-Atlantic and Southeast regions of the U.S., as well as in Texas and Canada. Mr. Smith holds a BS in Finance from Miami University of Ohio.
Mr. Hyland and Mr. Smith report to Michael Boehm, Managing Director of Hudson Securities’ Research Sales team, based in Chicago.
Hudson Securities, Inc. a subsidiary of Hudson Holding Corporation (OTC Bulletin Board: HDHL) provides a full range of corporate finance, advisory, and capital markets services and institutional equity research focused on the small and mid-cap marketplace. Hudson Securities, Inc. is dedicated to meeting the liquidity needs of its clients by providing execution solutions and making markets in over 15,000 U.S. and foreign securities. As a registered broker-dealer under the Securities Exchange Act of 1934, Hudson Securities is a member of the Financial Industry Regulatory Authority (“FINRA”).
Media Contact:
Josh Passman
CJP Communications
212.279.3115 x203
jpassman@cjpcom.com
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May 2010
Hudson Securities Expands Equity Research Team With Senior Gaming, Lodging And Leisure Analyst PR Newswire (May 18)
JERSEY CITY, N.J. (May 18, 2010) – Hudson Securities, Inc. announced today the expansion of its equity research team with the addition of Robert LaFleur as a Senior Research Analyst covering gaming, lodging and leisure companies. Mr. LaFleur has more than 14 years of experience as an analyst following the gaming, lodging and leisure industries, and earned a Top 5 ranking in Bloomberg’s Absolute Return Rankings for his stock picks in 2009.
Mr. LaFleur joins an established equity research team at Hudson Securities with coverage of the U.S. aviation and industrial sectors, as well as coverage of micro- and small-cap Chinese companies listed in the U.S.
"The addition of Bob LaFleur to our expanding research platform enhances our ability to deliver high-quality research coverage of diverse segments of the economy to our institutional client base,” stated Anthony M. Sanfilippo, Chief Executive Officer of Hudson Securities. “We are committed to building our business with strong talent and are pleased to have added an analyst with Bob’s impressive credentials to Hudson’s research group.”
Robert LaFleur added: “The firm’s ability to capitalize on opportunities in the marketplace is compelling and I look forward to working with an experienced team of professionals.”
Mr. LaFleur joins Hudson Securities from Susquehanna Financial Group where he was a Senior Research Analyst covering the gaming, lodging and leisure industries. He was previously with Deutsche Bank Securities, Inc. and before that, Bear, Stearns, & Co. Inc., where he was a senior member of the #1-ranked Institutional Investor Research Team. Mr. LaFleur received a Bachelor of Arts from the Cornell University School of Hotel Administration and a Masters of Science in Real Estate Finance from New York University.
Hudson Securities, Inc. a subsidiary of Hudson Holding Corporation (OTC Bulletin Board: HDHL) provides a full range of corporate finance, advisory, and capital markets services and institutional equity research focused on the small and mid-cap marketplace. Hudson Securities, Inc. is dedicated to meeting the liquidity needs of its clients by providing execution solutions and making markets in over 15,000 U.S. and foreign securities. As a registered broker-dealer under the Securities Exchange Act of 1934, Hudson Securities is a member of the Financial Industry Regulatory Authority (“FINRA”).
Media Contact:
Josh Passman
CJP Communications
212.279.3115 x203
jpassman@cjpcom.com
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Hudson Securities Airline Analyst Appointed To U.S. Department Of Transportation Advisory Committee PR Newswire (May 13)
JERSEY CITY, N.J. (May 13, 2010) – Hudson Securities, Inc. announced today that Daniel McKenzie, Senior Research Analyst, has been selected to join The Future of Aviation Advisory Committee convened by U.S. Transportation Secretary Ray LaHood. The 19-member committee will provide information, advice and recommendations to the Secretary of Transportation on ensuring the competitiveness of the U.S. aviation industry and its capability to address the evolving transportation needs, challenges and opportunities of the global economy.
“As one of two members representing the financial services industry, I look forward to collaborating with members of the committee to strengthen the competitiveness and health of the U.S. aviation industry,” stated Mr. McKenzie.
The committee is tasked with identifying and assessing changes impacting the U.S. aviation industry in areas such as environmental challenges, competitiveness and viability, aviation safety, workforce dynamics and funding for aviation systems. In addition to Mr. McKenzie, the committee includes airline industry CEOs including, among others, David Barger of JetBlue Airways Corporation and Glenn F. Tilton of UAL Corporation. Other members include representatives of environmental and consumer interest groups, labor associations and manufacturers, as well as academics.
Mr. McKenzie began his career analyzing the U.S. airline industry in 2000 as a member of Salomon Smith Barney (Citigroup), where Institutional Investor recognized him as part of the #2 ranked airline team. In 2006, Mr. McKenzie joined Credit Suisse as a senior airline analyst and he was ranked by the Financial Times’ StarMine as the #1 Earnings Estimator for 2008 and 2009. Following Credit Suisse, Mr. McKenzie joined Next Generation Equity Research which was acquired in 2010 by Hudson Securities, where he continues to cover the U.S. airline industry today.
Additional information about The Future of Aviation Advisory Committee can be found at the: Future of Aviation Advisory Committee website.
Hudson Securities, Inc. a subsidiary of Hudson Holding Corporation (OTC Bulletin Board: HDHL) provides a full range of corporate finance, advisory, and capital markets services and institutional equity research focused on the small and mid-cap marketplace. Hudson Securities, Inc. is dedicated to meeting the liquidity needs of its clients by providing execution solutions and making markets in over 15,000 U.S. and foreign securities. As a registered broker-dealer under the Securities Exchange Act of 1934, Hudson Securities is a member of the Financial Industry Regulatory Authority (“FINRA”).
Media Contact:
Josh Passman
CJP Communications
212.279.3115 x203
jpassman@cjpcom.com
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Hudson Securities Names Frank J. Drazka Head of Investment Banking PR Newswire (May 10)
JERSEY CITY, N.J. (May 10, 2010) – Hudson Securities, Inc. announced today that Frank J. Drazka has joined the firm as Head of Investment Banking and has been appointed to the Hudson Securities, Inc. board of directors.
A leading institutional trading firm, Hudson Securities last year expanded its platform to offer a full range of investment banking and capital markets services for both domestic and international clients. Earlier this year, the platform was further expanded with the integration of Next Generation, LLC, a research boutique focused on small- and mid-cap equities.
“The addition of a professional of Frank’s caliber underscores our commitment to providing a high quality, full-service capital markets and financial advisory offering to our corporate clients,” stated Anthony M. Sanfilippo, Chief Executive Officer of Hudson Securities. “We look forward to drawing on his expertise as we continue to enhance and expand our platform.”
Mr. Drazka added, “I am excited to join the management team at Hudson and look forward to leveraging the firm’s robust trading platform as we further develop and grow our corporate finance and advisory business.”
Mr. Drazka was most recently Managing Director and Chairman of the Board of Trenwith Group, LLC, an independent investment banking affiliate of BDO Seidman, LLP. Previously, he served as President and Chief Operating Officer of Investec Inc., the U.S. investment banking arm of Investec Group. Prior to joining Investec, Mr. Drazka was a Managing Director and Co-Head of the Technology Sector in the Americas at UBS Warburg LLC and Managing Director and Head of the Technology, Media and Telecommunications Group at PaineWebber Incorporated.
In addition to managing and growing investment banking businesses, Mr. Drazka has completed more than 120 transactions with a value in excess of $25 billion in the areas of public and private debt and equity offerings, leveraged buyouts, strategic advisory assignments, and financial restructurings. His transaction experience spans a variety of industries including technology, media, telecom, consumer products, retail, industrial, insurance and healthcare. In 2007, he was recognized by Investment Dealers’ Digest as one of the Top 40 Deal Makers under the age of 40.
Hudson Securities, Inc. a subsidiary of Hudson Holding Corporation (OTC Bulletin Board: HDHL) provides a full range of corporate finance, advisory, and capital markets services and institutional equity research focused on the small and mid-cap marketplace. Hudson Securities, Inc. is dedicated to meeting the liquidity needs of its clients by providing execution solutions and making markets in over 15,000 U.S. and foreign securities. As a registered broker-dealer under the Securities Exchange Act of 1934, Hudson Securities is a member of the Financial Industry Regulatory Authority (“FINRA”).
Media Contact:
Josh Passman
CJP Communications
212.279.3115 x203
jpassman@cjpcom.com
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February 2010
Hudson Holding Corp. Announces 4% Nine Months Revenue Increase Over Prior Year PR Newswire (Feb 16)
Jersey City, NJ, February 16, 2010: Hudson Holding Corporation (OTC Bulletin Board: HDHL.OB) announced that it filed its results for the fiscal quarter ended December 31, 2009 with the Securities and Exchange Commission today.
"We made significant progress this quarter in our firm wide review of our business lines. We closed on $4.8 million in financing, further strengthening our cash position while currently having no debt on our balance sheet. The loss for the quarter on a GAAP basis was primarily the result of certain non cash charges" said Tony Sanfilippo, Chief Executive Officer. "We are committed to reinvesting in our business by actively recruiting quality people and expanding our product offering in our effort to broaden our institutional business. The recent addition of a fundamental research product to complement our strong trading platform is an important step in repositioning Hudson as a full service firm. We believe our value proposition will be enhanced by these new initiatives."
Total revenues for the three months ended December 31, 2009 was approximately $10 million as compared to $12.2 million during the same period in the prior fiscal year, a decrease of 18%. Net trading gains for the three months ended December 31, 2009 was approximately $5.9 million as compared to $8.7 million during the same period in the prior fiscal year, representing a decrease of 32%. Commission revenues increased 18% for the three months ended December 31, 2009, to approximately $3.9 million from $3.3 million during the same period in the prior fiscal year, primarily due to an expansion of our institutional sales effort. The net loss increased to approximately $1.1 million for the three months ended December 31, 2009, from a $0.2 million loss during the same period in the prior fiscal year.
Total revenues increased 4% for the nine months ended December 31, 2009, to approximately $31.2 million from $30 million for the same period in the prior fiscal year. Net trading gains decreased 10% for the nine months ended December 31, 2009, to approximately $16.6 million from $18.4 million during the same period in the prior fiscal year. Commission revenues increased 30% for the nine months ended December 31, 2009, to approximately $14.1 million from $10.8 million during the same period in the prior fiscal year, primarily due to a significant expansion of our institutional sales effort. The net loss increased to approximately $4.5 million for the nine months ended December 31, 2009, from a $1.1 million loss during the same period in the prior fiscal year.
Hudson Holding Corporation is a publicly traded company on the OTC Bulletin Board under the symbol “HDHL” and is the parent of Hudson Securities, Inc. and Hudson Technologies, Inc. Hudson Securities, Inc. is dedicated to meeting the liquidity needs of its clients—institutions, hedge funds, asset managers, and broker dealers—by providing execution solutions and making markets in over 15,000 U.S. and foreign securities and ADRs. As a registered broker-dealer under the Securities Exchange Act of 1934, Hudson Securities is a member of the Financial Industry Regulatory Authority (“FINRA”) and has been in business since 1984. Hudson Technologies provides technology services to Hudson Securities and client companies.
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here; however, readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
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January 2010
Hudson Holding Corp. Signs Letter of Intent to Acquire Business of Next Generation Equity Research, LLC PR Newswire (Jan 21)
Jersey City, NJ, January 21, 2010: Hudson Holding Corporation (OTC Bulletin Board: HDHL), parent of Hudson Securities, Inc., today announced that it has entered into a Letter of Intent to acquire the equity research and investment banking business of Next Generation, LLC, a Chicago based equity research boutique focused on the needs of institutional investors. The consummation of the transaction is subject to completion of due diligence, the negotiation of a definitive agreement, approval by Next Generation’s members, FINRA approval and customary closing conditions. There can be no assurance that the transaction will be completed.
“I am delighted by the anticipated addition of Next Generation’s team and its Chicago office to our roster. Next Generation delivers high quality, unbiased, idea driven research on companies with market capitalizations of $5 billion or less. This will allow Hudson to offer its institutional clients a unique research product that addresses companies that are often overlooked by other firms,” noted Anthony (Tony) M. Sanfilippo, the Company’s Chief Executive Officer.
Timothy M. Fierce, Managing Partner of Next Generation, stated, “We are excited to join Hudson and gain access to their resources. We believe that this will enable us to leverage our platform and expand our existing client base.” Michael W. Boehm, Managing Partner of Next Generation, added, “Hudson gives us the ability to expand our research acumen in the marketplace and advance our investment banking capabilities.”
The parties expect the transaction to be completed in the first quarter of 2010.
Hudson:
Hudson Holding Corporation is a publicly traded company on the OTC Bulletin Board under the symbol “HDHL” and is the parent of Hudson Securities, Inc. and Hudson Technologies, Inc. Hudson Securities, Inc. is dedicated to meeting the liquidity needs of its clients—institutions, hedge funds, asset managers, and broker dealers—by providing execution solutions and making markets in over 15,000 U.S. and foreign securities and ADRs. As a registered broker-dealer under the Securities Exchange Act of 1934, Hudson Securities is a member of the Financial Industry Regulatory Authority (“FINRA”) and has been in business since 1984. Hudson Technologies provides technology services to Hudson Securities and client companies.
Next Generation Research, LLC:
Next Generation Equity Research, LLC is an equity research boutique focused on the needs of the institutional investor. It provides unbiased, idea-driven research on small to mid-cap companies in the industrial, airlines, and basic materials sectors. Next Generation’s focus on the small to mid-cap sector fulfills demand for research products covering publicly-held companies often overlooked by other investment firms.
Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here; however, readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
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Hudson Holding Corp. Adds Former Chairman and CEO of Knight, Ken Pasternak, Former President of Jefferies Group, John Shaw and Jack Mascone of The Seaport Group as Board Directors PR Newswire (Jan 7)
Jersey City, NJ, January 7, 2010: Hudson Holding Corporation (OTC Bulletin Board: HDHL), parent of Hudson Securities, Inc., today announced that three new independent directors, Kenneth D. Pasternak, John C. Shaw Jr. and John (Jack) W. Mascone, all with broad industry expertise, have been elected to the Board of Directors at the firm’s Annual Meeting of Stockholders held this past December. Mr. Pasternak has been appointed Chairman of the Board by the Board of Directors. The Hudson Holding Corp. Board now consists of five independent directors, and two members of management.
“I am delighted to be working with the new slate of independent directors. A strong corporate governance structure with an independent board of this caliber is an important step for Hudson. I will draw on their vast experience as we expand Hudson’s presence as a full service securities and investment banking firm with a strong wholesale market making platform. A board of this stature will be very strategic as we continue to strengthen our institutional sales effort and pursue a variety of opportunities following our recently completed financing,” noted Anthony (Tony) M. Sanfilippo, the Company’s Chief Executive Officer.
Newly appointed Chairman Ken Pasternak stated “I look forward to serving in my new role as Chairman of the Board and to working with Tony, the full Board of Directors and Hudson’s management team. I have invested in the company because of its vision and business model. There has been a significant consolidation in the industry, and I believe that Hudson is well positioned to leverage its highly scalable trading platform.”
Ken Pasternak, a major stockholder of Hudson, co-founded Knight Capital Group, Inc (ticker: NITE) and served as its Chief Executive Officer from its formation in 1995 until 2002. In addition to Pasternak, stockholders elected John Shaw, who retired as President and Chief Operating Officer of Jefferies Group, (ticker: JEF), after a 23 year career with that firm. Shareholders also elected Jack Mascone, Managing Director of The Seaport Group, LLC, a fixed income institutional sales and trading firm. Existing independent directors Joanne Landau and Peter Zugschwert were re-elected as were the Company’s Chief Executive Officer and President.
“Hudson is in a position to significantly increase its value proposition to clients by maximizing the strategic value of its trading platform. This Board brings together individuals who understand the transformative process and are committed to making it a reality. The recent hiring of Tony Sanfilippo as CEO provides the proven management depth critical to this effort,” stated new Board member John Shaw.
New Board member Jack Mascone added, “I’m delighted to bring my securities and fixed income trading expertise to the table. As a key stockholder in the company, The Seaport Group and its principals recognize Hudson’s untapped potential.”
Hudson Holding Corporation is a publicly traded company on the OTC Bulletin Board under the symbol “HDHL” and is the parent of Hudson Securities, Inc. and Hudson Technologies, Inc. Hudson Securities, Inc. is dedicated to meeting the liquidity needs of its clients—institutions, hedge funds, asset managers, and broker dealers—by providing execution solutions and making markets in over 15,000 U.S. and foreign securities and ADRs. As a registered broker-dealer under the Securities Exchange Act of 1934, Hudson Securities is a member of the Financial Industry Regulatory Authority (“FINRA”) and has been in business since 1984. Hudson Technologies provides technology services to Hudson Securities and client companies.
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here; however, readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
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November 2009
Hudson Holding Corporation Announces 19% Six Months Revenues Increase Over Prior Year, 2% Decrease For Three Months PR Newswire (Nov 16)
Jersey City, NJ, November 16, 2009: Hudson Holding Corporation (OTC Bulletin Board: HDHL.OB) announced that it filed its results for the fiscal quarter ended September 30, 2009 with the Securities and Exchange Commission today.
“While we’re pleased with the 19% increase in six month year-to-date revenue growth that Hudson achieved over the prior year, we have initiated a firm wide review of our business in an effort to improve margins.” said Tony Sanfilippo, Hudson’s Chief Executive Officer. “We continue to expand our institutional sales effort and to pursue a variety of strategic opportunities, including expansion of some of our current business lines. This will be facilitated by our recently completed $4.3 million financing from our stakeholders. Our loss this quarter is largely attributable to costs driven by our expansion and certain non cash charges incurred in connection with our recent change in management.”
Total revenues for the three months ended September 30, 2009 was approximately $9.5 million as compared to $9.7 million during the same period in the prior fiscal year, a decrease of 2%. Net trading gains for the three months ended September 30, 2009 was approximately $4.8 million as compared to $6.1 million during the same period in the prior fiscal year, representing a decrease of 22%. Commission revenues increased 40% for the three months ended September 30, 2009, to approximately $4.5 million from $3.2 million during the same period in the prior fiscal year, primarily due to an expansion of our institutional sales effort. The net loss increased to approximately $2.2 million for the three months ended September 30, 2009, from a $0.1 million loss during the same period in the prior fiscal year.
Total revenues increased 19% for the six months ended September 30, 2008, to approximately $21.1 million from $17.8 million for the same period in the prior fiscal year. Net trading gains increased 11% for the six months ended September 30, 2009, to approximately $10.7 million from $9.6 million during the same period in the prior fiscal year. Commission revenues increased 35% for the six months ended September 30, 2009, to approximately $10.1 million from $7.5 million during the same period in the prior fiscal year, primarily due to a significant expansion of our institutional sales effort. The net loss increased to approximately $3.4 million for the six months ended September 30, 2009, from a $1.0 million loss during the same period in the prior fiscal year.
Hudson Holding Corporation is a publicly traded company on the OTC Bulletin Board under the symbol “HDHL” and is the parent of Hudson Securities, Inc. and Hudson Technologies, Inc. Hudson Securities, Inc. is dedicated to meeting the liquidity needs of its clients—institutions, hedge funds, asset managers, and broker dealers—by providing execution solutions and making markets in over 15,000 U.S. and foreign securities and ADRs. As a registered broker-dealer under the Securities Exchange Act of 1934, Hudson Securities is a member of the Financial Industry Regulatory Authority (“FINRA”) and has been in business since 1984. Hudson Technologies provides technology services to Hudson Securities and client companies.
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here; however, readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
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Hudson Holding Corporation Raises $4.3 Million in Private Placement Signaling Important Stakeholder Support PR Newswire (Nov 13)
Jersey City, NJ, November 13, 2009 : Hudson Holding Corporation (“Hudson); (OTC Bulletin Board: HDHL.OB) announced that on November 12 , 2009 it had completed an initial closing on its private placement offering of $4,337,500 million of its common stock at a purchase price of $0.25 a share. The offering was subscribed by several existing shareholders and certain officers, directors and employees, including its new CEO, Tony Sanfilippo. In connection with the financing, Hudson issued 17,350,000 shares of common stock. The Company also entered into a registration rights agreement with the investors that provides for two “demand” registrations at the Company’s expense. As a result of the financing, Hudson’s working capital now exceeds $10.6 million and the net capital of its Hudson Securities, Inc. broker dealer subsidiary now exceeds $ 9 million. The Company intends to use the proceeds for working capital purposes, to further strengthen its capital position and to facilitate additional recruitment at its broker dealer subsidiary, Hudson Securities.
“I am pleased that our key stake holders - existing shareholders, directors and employees - have chosen to validate our business model” said Tony Sanfilippo, Hudson’s Chief Executive Officer. “Building a reserve of working capital will permit Hudson to pursue the recruitment of additional proven producers and a variety of strategic opportunities, including the expansion of current business lines.”
The private placement was made exclusively to accredited investors on an unsolicited basis in a private transaction under Regulation D, and is intended to be exempt from the registration requirements of the Securities Act of 1933, as amended. The Company did not incur any broker or finder costs or expenses in connection with the offering. The shares of common stock issued in the private placement may not be offered or sold in the United States absent registration under the Securities Act and applicable state securities laws or an applicable exemption from those registration requirements. Additional details will be provided in Hudson’s forthcoming quarterly report on Form 10-Q, which will be filed with the Securities and Exchange Commission.
Hudson Holding Corporation is a publicly traded company on the OTC Bulletin Board under the symbol “HDHL” and is the parent of Hudson Securities, Inc. and Hudson Technologies, Inc. Hudson Securities, Inc. is dedicated to meeting the liquidity needs of its clients—institutions, hedge funds, asset managers, and broker dealers—by providing execution solutions and making markets in over 15,000 U.S. and foreign securities and ADRs. As a registered broker-dealer under the Securities Exchange Act of 1934, Hudson Securities is a member of the Financial Industry Regulatory Authority (“FINRA”) and has been in business since 1984. Hudson Technologies provides technology services to Hudson Securities and client companies.
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here; however, readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
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October 2009
Hudson Hires Veteran Securities Industry Professional Tony Sanfilippo as CEO PR Newswire (Oct 12)
Jersey City, NJ, October 12, 2009: Hudson Holding Corporation (OTC Bulletin Board: HDHL.OB), parent of Hudson Securities, Inc., today announced that it has hired veteran securities industry professional Tony Sanfilippo as its Chief Executive Officer (CEO).
Mr. Sanfilippo has over 30 years’ experience in the financial services industry. He joins Hudson from Etico Capital, a boutique merchant bank he co-founded in 2007. Prior to starting Etico, he served as head of US equity trading for Jefferies & Co. Previously, Mr. Sanfilippo was Interim Chief Executive Officer of Knight Trading Group, and served as President and CEO of Knight Capital Markets. Mr. Sanfilippo joined Knight when Tradetech Securities, a Company he founded and managed as President and CEO, was acquired by the Trimark Division of Knight. Mr. Sanfilippo’s current industry associations include serving as a Director of the National Organization of Investment Professionals and a governor of the Securities Trader Association. He is a past board member of Nasdaq Europe and Knight Trading Group.
Mr. Sanfilippo stated, “I am excited to have the opportunity to continue to build upon the strong trading platform in place at Hudson. I will draw on my experience of building both global and domestic businesses in various size firms, to develop existing as well as new business lines at Hudson. The market environment the past year has allowed many small and medium size firms to attract quality human capital and increase their value proposition and level of service. At Hudson, our focus will be to expand our distribution capabilities and product offerings to better serve our clients.”
Martin C. Cunningham, co-founder of Hudson, will be stepping down to pursue personal and other professional business interests. Mr. Cunningham said “It is a testimony to our past achievements and our prospects for the future that we have been able to attract someone of Mr. Sanfilippo’s caliber. I feel extremely fortunate to have been part of the evolution of this company, and feel confident that the quality of people ingrained in the organization will ensure that Hudson’s best days are yet to come.”
Keith Knox, President of Hudson added, “I want to thank Marty for his extraordinary contribution to the strong revenue growth Hudson has experienced over his tenure, which has seen annual revenues go from $10 million in 2004 to $38 million in 2009. We wish him all the best in his future endeavors. I know that I speak not only for myself but for all at Hudson in expressing the firm’s excitement in having Mr. Sanfilippo at the helm and bringing Hudson to the next level.”
Hudson Holding Corporation is a publicly traded company on the OTC Bulletin Board under the symbol “HDHL” and is the parent of Hudson Securities, Inc. and Hudson Technologies, Inc. Hudson Securities, Inc. is dedicated to meeting the liquidity needs of its clients—institutions, hedge funds, asset managers, and broker dealers—by providing execution solutions and making markets in over 15,000 U.S. and foreign securities and ADRs. As a registered broker-dealer under the Securities Exchange Act of 1934, Hudson Securities is a member of the Financial Industry Regulatory Authority (“FINRA”) and has been in business since 1984. Hudson Technologies provides technology services to Hudson Securities and client companies.
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here; however, readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
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news archive
Articles
August 2010
Hudson Analyst Robert LaFleur Quoted in BusinessWeek article: Governor Christie's Atlantic City Cleanup Plan August 11, 2010
Hudson Analyst Robert LaFleur Quoted in TheStreet.com Article: Hyatt Misses, Poised To Improve August 5, 2010
July 2010
Hudson Analyst Ned Borland Quoted in Reuters Article: Federal Signal Q2 trails Street view, shares fall July 30, 2010
Hudson Analyst Robert LaFleur Quoted in Reuters Article:Wynn Q2 profit doubles as shares decline July 29, 2010
Hudson Analyst Robert LaFleur Quoted in Las Vegas Review-Journal Article: Las Vegas Sands narrows second quarter… July 28, 2010
Hudson Mentioned in ETF Database Article: Wednesday’s ETF To Watch: Gaming ETF… July 28, 2010
Hudson Analyst Robert LaFleur Quoted in SFGate Bloomberg Article: Wyndham Worldwide Shares Rise on Earnings... July 27, 2010
Hudson Analyst Ned Borland Quoted in Reuters Article: Spartan Motors posts Q2 net loss, shares fall July 23, 2010
Hudson Analyst Robert LaFleur Quoted in Reuters Article: Starwood beats Street; raises 2010 outlook July 22, 2010
Hudson Head of Investment Banking Frank Drazka Quoted in FINS Article: How to Get an Edge… July 21, 2010
Hudson Analyst Dan McKenzie Quoted in Bloomberg Businessweek's AP Article: Earnings Preview: AMR Corp. July 19, 2010
Hudson Analyst Dan McKenzie Quoted in MarketWatch Article: Airline Stocks fall after Delta results… July 19, 2010
Hudson Analyst Dan McKenzie Quoted in MarketWatch Article: Delta swings to profit, sees revenue gains but stock slumps July 19, 2010
Hudson Analyst Dan McKenzie Quoted in Canadian Business Article: Parent of United Airlines expected to post July 19, 2010
Hudson Analyst Dan McKenzie Quoted in Centre for Asia Pacific Aviation Article: US airlines lifting off… July 19, 2010
Hudson Analyst Robert LaFleur Quoted in Las Vegas Review-Journal Article: INSIDE GAMING: Analyst singing praises… July 18, 2010
Hudson Analyst Robert LaFleur Quoted in Bloomberg Businessweek Article: Harrah’s Puts Paulson in ‘Driver’s Seat’… July 16, 2010
Hudson Analyst Dan McKenzie Quoted in WSJ Article: Airlines Cruise to Profits With Newfound Strength July 16, 2010
Hudson Analyst Dan McKenzie Quoted in Bloomberg Businessweek Article: Delta Fare Sale to Fill Jets… July 15, 2010
Hudson Analyst Dan McKenzie Quoted in Washington Post Article: Delta Beats Rivals With Fare Cut… July 15, 2010
June 2010
Hudson Analyst Dan McKenzie Mentioned in Travel Weekly Article: Continental-United combination could hinge on survivability June 24, 2010
Hudson Analyst Dan McKenzie Quoted in Reuters Article: United merger executives cite foreign, low-cost threats June 17, 2010
Hudson Analyst Dan McKenzie Quoted in WSJ Article: JetBlue Shares Up June 16, 2010
Hudson Analyst Dan McKenzie Quoted in Forbes Article: Spirit Airlines Strike Means More Green For JetBlue June 14, 2010
Hudson Analyst Dan McKenzie Quoted in MarketWatch Article: Spirit Air's strike forces customers to seek help from rivals… June 14, 2010
Hudson Analyst Dan McKenzie Quoted in NYT Article:Air Travel’s Costly Future June 7, 2010
May 2010
SNL Financial's Q&A with Hudson Securities' Anthony Sanfilippo and Robert LaFleur May 19, 2010
Hudson Analyst Dan McKenzie Mentioned in DOT Press Release: U.S. Transportation Secretary LaHood Announces Members… May 12, 2010
Hudson Analyst Dan McKenzie Quoted in The Philadelphia Inquirer Article: Debating future of US Airways May 4, 2010
Hudson Analyst Dan McKenzie Quoted in The Dallas Morning News Article: Will United-Continental merger move… May 4, 2010
Hudson Analyst Dan McKenzie Quoted in The Bellingham Herald Article: Left out of the M&A Party... May 3, 2010
Hudson Analyst Dan McKenzie Quoted in Orlando Sentinel Article: Airlines Have Stake in Wall St. Reform May 2, 2010
Hudson Analyst Dan McKenzie Quoted in Barron's Article: Flying With the Big Fish May 1, 2010
April 2010
Hudson Analyst Ned Borland Quoted in Reuters Article: Federal Signal posts surprise Q1 loss… April 30, 2010
Hudson Analyst Nat Kellogg Quoted in Reuters Article: Belden Q1 tops Street, raises FY outlook April 29, 2010
Hudson Analyst Nat Kellogg Quoted in Reuters Article: Olympic Steel Q1 profit trails Street April 29, 2010
Hudson Analyst Dan McKenzie Quoted in The Seattle Times Article: Alaska Air climbs through industry turbulence April 29, 2010
Hudson Analyst Dan McKenzie Quoted in Forbes Article: JetBlue's Turbulent Quarter April 28, 2010
Hudson Analyst Nat Kellogg Quoted in Reuters Article: Carpenter Technology Q3 results beats Street April 27, 2010
Hudson Analyst Nat Kellogg Quoted in Reuters Article: Castle sees Q2 loss, shares drop April 27, 2010
Hudson Analyst Dan McKenzie Mentioned in Philadelphia Inquirer Article: Winging It… April 26, 2010
Hudson Analyst Julie Chen Quoted in Bloomberg Article: Stronger Yuan to Bolster China Paper Stocks… April 21, 2010
Healthzone Ltd. Joins OTCQX: Hudson to Serve as Healthzone's "PAL" April 20, 2010
Hudson Analyst Dan McKenzie Quoted in Associated Press Report: Continental, United in Deal Talks April 15, 2010
Hudson Analyst Dan McKenzie Quoted in NYT Article: Less Baggage, Big Savings to Airlines April 6, 2010
Hudson Analyst Dan McKenzie Quoted in Boston Herald Article: JetBlue, American to Partner April 1, 2010
March 2010
Upgrades and Downgrades: Lions Gate Ready to Roar? March 30, 2010
Delta gains from analyst comments; Southwest objects to Delta and US Airways plans to hand out slots March 24, 2010
Hudson Analyst Dan McKenzie Quoted in The Business Times Article: US Airways, Delta offer landing… March 24, 2010
Hudson Analyst Dan McKenzie Quoted in Top News Article: Delta and US Airways to go Ahead with Plans… March 23, 2010
Hudson Analyst Dan McKenzie Quoted in Business Week Article: Delta, US Sweeten NYC-Washington Plan… March 23, 2010
Hudson Analyst Dan McKenzie Quoted in The Tide Online News: US Airline Stock Gains Soar March 22, 2010
Airline Stock Gains Mask Big Risks March 19, 2010
Hudson Analyst Nat Kellogg Quoted in Wall Street Journal Article: General Cable Changes its Math… March 18, 2010
Hudson Analyst Nat Kellogg Quoted in Medill Reports Chicago Article: A.M. Castle Narrowed Its Loss... March 10, 2010
Hudson Analyst Julie Chen Quoted in SmartMoney Article: Betting on Beijing... March 10, 2010
Hudson Analyst Ned Borland Quoted in Wall Street Journal Article: Albany International Shares Rise... March 9, 2010
Hudson Analyst Dan McKenzie Quoted in Medill Reports Chicago Article: Merger Buzz Swirls Around UAL March 2, 2010
Twelve Months Cash Flow from Operations Turns Positive for Hudson Holding March 1, 2010
February 2010
Hudson Analyst Dan McKenzie Quoted in CNN Money Article: Airlines Ripe for Another Merger... February 26, 2010
Black Box Corp. Executive to Attend Hudson Securities Annual One-on-One Industrials Conference February 26, 2010
Hudson Analyst Nat Kellogg Quoted in Reuters Article: Olympic Steel Posts Surprise Q4 Loss... February 25, 2010
Hudson Analyst Ned Borland Quoted in Medill Reports Chicago Article: Federal Signal Closes 2009… February 24, 2010
Hudson Analyst Julie Chen to Serve as Panelist at New York's China Prospects Forum... February 24, 2010
May 2009
Hudson Securities Expands Reach Into Institutional Space Traders Magazine (May 1, 2009)
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