Fixed-Income Veteran Joins Legend Merchant Group
Kurt P. Modarelli to Head New Corporate Asset Management Practice
New York — November 7, 2006
Kurt Modarelli, formerly Senior Vice President at Cantor Fitzgerald & Co., has joined Legend Merchant Group (LMG) as Managing Director-Head of Fixed Income and will lead LMG’s Global Corporate Asset Management Group.
“As public companies acquire more and more cash, they must develop increasingly sophisticated strategies to optimize their portfolios. Kurt is well-known for his ability to develop and implement successful strategies based on the unique board mandates and requirements of each client,” said David W. “Chip” Unsworth, Jr., Co-Chairman and CEO of LMG. “Legend is building a deep expertise in this large and growing market, much as we have done in the security sector with our Convergent Security Group,” Mr. Unsworth added.
“Demand for global corporate asset management is surging, notably in the biotech and pharmaceutical industries due to their unique net working capital challenges, known as ‘burn rate’,” said Mr. Modarelli, who has managed the assets of major corporations since 1994. “Further, I plan to capitalize on my success regarding the burgeoning need for sophisticated US $ fixed-income services among Chinese mid-tier banks, financial service institutions and notably, corporations,” he stated.
As an institutional fixed-income veteran of more than 16 years, Mr. Modarelli’s expertise includes derivative product and treasury arbitrage. He has routinely traded with the proprietary desks of the world’s largest institutions, including central banks. A product of the American Express International Bank Executive Training Program and the Bear Stearns Institutional Fixed Income Training Program, Mr. Modarelli was the West Coast Government Bond Specialist at Prudential Securities. He also served as President of Oculus Ventures LLC, a private venture capital firm focused on the biotech sector.
Mr. Modarelli graduated from Vanderbilt University with a B.A. in Business Administration & English Literature and earned his MBA from Tulane University’s Freeman School of Business. He speaks fluent German and is currently learning Mandarin. He will work from LMG’s San Francisco office.
About Legend Merchant Group (“LMG”)
Legend Merchant Group, Inc. is a diversified investment bank based in New York with offices in San Francisco. LMG is an NASD Broker-Dealer; SEC-Registered Investment Advisor; and member of the National Futures Association, NYSE Arca and SIPC.
For more information, please contact:
John Shaw
Co-Chairman and President
(212) 809-5568
jshaw@a747589.sites.myregisteredsite.com
