BTIG has hired Joe Passaro as both head of capital markets and as a managing director.
Mr Passaro joins BTIG from Deutsche Bank Securities, where he spent 12 years working across a variety of senior roles in the equity capital markets and global equity trading units. Most recently he served as co-head of its equity capital markets syndicate for the Americas region.
In his new role, he will aim to provide BTIG with differentiated advice on equity, equity-linked and equity derived products. He over a decade of transactional and trading experience, and will contribute to the financial services firm’s work in originating transactions, structuring offerings, and improving valuations for corporations. In addition to this, Mr Passaro will help grow its coverage of financial sponsor, private equity and venture capital clients.
He will be based in BTIG’s New York office and will report to Matt Clark, who leads BTIG Investment Banking.
Scott Kovalik, co-founder and chief executive officer of BTIG believed that Mr Passaro’s appointment to the leadership would benefit the company due to this extensive knowledge of key sectors.
He said: “We are pleased to welcome Joe to BTIG’s leadership team. His extensive knowledge of the financial sponsor universe, deep relationships with institutional investors and ability to assist clients executing complex trades and transactions will be extremely valuable as we continue to expand our capital markets capabilities.”
Steven Starker, co-founder of BTIG added that Mr Passaro could help boost its growth prospects in the capital markets sector.
He added: “Joe is a strong addition to our Investment Banking and Capital Markets unit. We believe that he will propel growth across this important business. As we continue to build out a market-leading platform, he will play a key role in helping to drive solid financial outcomes for clients.”
BTIG is specialises in institutional trading, investment banking, research and related brokerage services. It has over 600 employees while BTIG, LLC and its affiliates operate out of 18 cities in the US, Europe, Asia and Australia.
