Independent US financial services firm HudsonWest has launched an equity-linked advisory practice focused on delivering ‘independent, objective advice to corporate clients’.
HudsonWest will draw upon founder Barry Gewolb's (pictured) US$100 billion of transaction volume over the past decade in the equity-linked space to advise corporates on their equity derivative transactions, including convertible debt issuances, call spread transactions (call spread unwinds/terminations), accelerated share repurchases (ASRs), convertible preferred stock issuances, equity forward sales, equity-linked hedging transactions and margin loan transactions.
"Equity-linked securities are some of the most complex - yet most beneficial - transactions a public company can undertake" said Gewolb, adding “companies can leave millions of dollars on the table without the right advice”.
"HudsonWest's background uniquely positions us to advise companies across all aspects of their equity-linked transactions - from large-scale structuring to intricate mechanical details - ensuring the best outcome and maximum protection for our clients."
HudsonWest has developed ‘a groundbreaking pricing model’ to ensure companies, not their advisors, are the big winners in their equity-linked transactions, according to Gewolb.
"We fundamentally believe in advisors being advisors, not just another pocket to line," said Gewolb. “That's why we're committed to fair, transparent pricing for our clients with a model that puts companies first. And clients will continue to get best-in-class advice.”
Prior to founding HudsonWest, Gewolb spent ten years as an equity-linked attorney in New York at Davis Polk & Wardwell, a leading equity derivatives law firm.
At Davis Polk, Gewolb goined deep understanding of the equity-linked market and detailed knowledge of the various commercial, risk, legal, accounting and tax issues companies face. Gewolb has been a Chartered Financial Analyst (CFA) charterholder since 2015.
HudsonWest' is seeking to capitalise on new opportunities in the US market which has seen a substantial growth in the last three years that is mainly due to new entries from Canada and Europe, and the country’s approach to economic growth that led to a very strong equity market.
That environment has had salutary effect on the structured products market with people looking up to that market to participate, said Christopher Schell, partner, derivatives and structured products group, Davis Polk & Wardwell, at a panel discussion earlier this year.
Schell also pointed at the development of platforms for structured products as a second reason for the recent growth as they have facilitated a bigger understanding of the market, and have triggered greater penetration among new investors.