D.A. Davidson & Co. announced today its continued investment to broaden its capital markets capabilities with new hire Josh Nolan as a Managing Director in the Equity Capital Markets group. Nolan will focus on origination and execution in the Financial Institutions and Financial Technology industries. He will be based in the New York office.
During his career, Nolan has successfully executed over 100 equity, debt, and preferred offerings for clients. “Josh brings a unique experience to the capital markets role, having covered both public and private markets across the equity and debt product spectrum during his entire career,” said Rory McKinney, President of Equity Capital Markets at D.A. Davidson. “Our firm remains committed to broadening our Investment Banking franchise and hiring talented, senior bankers with deep industry insight.”
With the slowdown in capital raising in 2022, do you see issuance activity picking up in 2023?
“I do expect deal volume will pick up in 2023 and begin to normalize toward a pre-pandemic run rate as companies continue to digest higher rates and anticipate further moves from the Fed. Until valuations rebound, issuing activity will likely be event-driven with an eye towards M&A financing, debt refinancing and incremental liquidity for banks,” commented Josh Nolan, Managing Director at D.A. Davidson. “IPO activity is expected to recover more slowly and will concentrate around experienced leadership teams, high-quality markets, and compelling growth stories. In the FinTech space, private companies looking to raise growth capital will entertain smaller rounds than in the recent past given the focus from investors on valuation and efficiency.”
How is D.A. Davidson positioned to serve clients’ needs in the Financial Institutions and FinTech spaces?
“D.A. Davidson has long been a leader in the Financial Institutions sector with a strong focus on banks. D.A. Davidson’s acquisition of Marlin & Associates diversifies that legacy business towards FinTech and reorients its market position for the opportunity ahead,” said Nolan. “Bank clients are increasingly intrigued by the strategic opportunities and competitive advantages created through technology but often don’t know where to start thinking about adoption. FinTech clients are building innovative new products but lack access to a balance sheet, regulatory prowess, or credit expertise offered by banks. D.A. Davidson sits at the nexus of these two groups, helping both sides navigate this increasingly dynamic landscape.”
Nolan joins D.A. Davidson from the FinTech start-up Mesh Payments, where he helped establish the company’s financial services presence in the U.S. Previously, Nolan was the Head of Financial Services Capital Markets at Piper Jaffray. He graduated from The Leonard N. Stern School of Business at New York University with a bachelor’s degree in finance.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,525 employees and offices in 28 states.
Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.
For more information, visit dadavidson.com.
Andreea Popa, Head of Equity Capital Markets Marketing | [email protected]