B. Riley Expands Fixed Income Division

Rhea-AI Summary

B. Riley Financial (NASDAQ: RILY) announced the appointment of Tim Sullivan as Head of Fixed Income for B. Riley Securities. This move aims to enhance the firm's fixed income division, building on approximately $1.5 billion in corporate debt and preferred stock offerings year-to-date. Sullivan, previously at Imperial Capital, brings over 25 years of experience in high-yield and credit sales. The expansion is positioned to meet increasing client demand and strengthen B. Riley's distribution capabilities in the fixed income market.

Positive

• Appointment of Tim Sullivan to lead the fixed income division, bringing over 25 years of industry experience.
• Year-to-date corporate debt and preferred stock offerings reached approximately $1.5 billion, indicating strong market engagement.
• Enhanced distribution capabilities targeting institutional investors through a network of over 1,000 contacts.

Negative

• None.

LOS ANGELES, Aug. 10, 2021 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley"), a diversified provider of business advisory and financial services, today announced that Tim Sullivan has agreed to join the firm as Head of Fixed Income with B. Riley Securities, Inc.

Bryant Riley, Chairman and Co-Chief Executive Officer of B. Riley Financial, commented: "The expansion of fixed income is an important and natural next step in the continued growth of our platform. Our team has led approximately $1.5 billion of corporate debt and preferred stock offerings year-to-date. We continue to see increasing uptake by our clients for our expertise in structured products in addition to our enhanced institutional and retail distribution capabilities. With the addition of Tim's expertise and proven leadership in high-yield and credit sales and trading, we are confident in our ability to aggressively grow our fixed income division to enhance the value we deliver to our clients."

As President of Imperial Capital, LLC, Sullivan has been responsible for leading the investment bank's sales, trading and research business. He joined Imperial in late 2019 as Managing Director and Head of U.S. Credit. Sullivan has over 25 years of industry experience and has held various senior positions in fixed income, including as Head of High Yield Sales & Trading at Jefferies Group LLC and as Managing Director in Credit Trading at UBS. He earned a B.S. in economics from Cornell University.

Tim Sullivan added, "B. Riley has established its leadership in providing differentiated solutions to address the evolving needs of its clients, be it yield enhancement, cash flow optimization or navigating market risk and interest rate volatility. I look forward to working with the team in growing B. Riley's fixed income business and further enhancing its client relationships."

Andy Moore, CEO of B. Riley Securities, will be leading the expansion of the firm's fixed income division in coordination with Sullivan. B. Riley offers an extensive suite of primary and secondary market solutions, including a market-leading senior notes offering franchise and specialization in corporate debt, preferred stock offerings, term loans and private placements. The firm's fixed income sales and trading professionals provide issuers with high-quality distribution through its network of over 1,000 institutional investors.

For more information about B. Riley Securities and its fixed income capabilities, contact Andy Moore at amoore@brileyfin.com or visit www.brileysecurities.com.

About B. Riley Securities
B. Riley Securities provides a full suite of investment banking, corporate finance, advisory, research, and sales and trading services. Investment banking services include initial, secondary and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring and recapitalization. B. Riley is nationally recognized and highly ranked for its proprietary small-cap equity research. The firm is a wholly owned subsidiary of B. Riley Financial.

About B. Riley Financial
B. Riley Financial provides collaborative solutions tailored to fit the capital raising and business advisory needs of its clients and partners. B. Riley operates through several subsidiaries that offer a diverse range of complementary end-to-end capabilities spanning investment banking and institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction and liquidation services. For more information, please visit www.brileyfin.com.

Contacts

Investors	Media
Mike Frank	Jo Anne McCusker
ir@brileyfin.com	press@brileyfin.com
(212) 409-2424	(646) 885-5425

 

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SOURCE B. Riley Financial

FAQ

What is B. Riley Financial's recent announcement regarding Tim Sullivan?

B. Riley Financial announced the appointment of Tim Sullivan as Head of Fixed Income for B. Riley Securities on August 10, 2021.

What impact does Tim Sullivan's appointment have on B. Riley's operations?

Tim Sullivan's appointment is expected to enhance B. Riley's fixed income division and improve client service and distribution capabilities.

How much has B. Riley engaged in corporate debt offerings this year?

B. Riley has led approximately $1.5 billion in corporate debt and preferred stock offerings year-to-date.

Who will lead the expansion of the fixed income division at B. Riley?

Andy Moore, CEO of B. Riley Securities, will oversee the expansion of the firm's fixed income division in coordination with Tim Sullivan.