NEW YORK--(BUSINESS WIRE)--Academy Securities, a registered broker-dealer and certified Disabled Veteran Business Enterprise, today announced that it closed on a Series A Financing to expand its business operations and continue to hire and train military veterans in areas like capital markets, trading, investment banking and municipal finance. Investors include John Mack former Chairman & CEO of Morgan Stanley, Stephen Friedman former Chairman & CEO of Goldman Sachs, Joseph Grano former Chairman & CEO of UBS PaineWebber, Denis Nayden former Chairman & CEO of GE Capital and Managing Partner of Oak Hill Capital Partners, Vincent Viola former Chairman of the NYMEX and Chairman of Virtu Financial, Howard Milstein Chairman & CEO of Emigrant Savings Bank, and others.
Academy has also expanded its Board to include other investors in the group, including John Myers former CEO of GE Asset Management, Sidney Goodfriend former Merrill Lynch Investment Banker and founder of American Corporate Partners, Robert Lyons former Head of Capital Markets at Merrill Lynch, and William Wright former CEO of AMCON. Additionally, Academy’s Advisory Board includes prominent retired military officers General Peter Pace, USMC 16th Chairman of the Joint Chiefs of Staff and Vice Admiral Robert Harward, U.S. Navy SEAL and former Deputy Commander U.S. Central Command.
“We are excited for the opportunity to a have the support of such an amazing group of Wall Street executives as we build a first class financial services firm owned and operated by military veterans,” said Chance Mims, Chairman & CEO at Academy Securities. “The mentorship and guidance of these experienced professionals will play an important role in the execution of both our business plan and social mission.”
Academy Securities employs veterans and service-disabled veterans, including those returning from post-9/11 service, in areas including capital markets, investment banking, public finance, and trading. 40 percent of the growing broker-dealer’s workforce is military veterans and the firm expects that number to rise to 50 percent in the near future.
“Our relationship with this prominent group of individuals greatly enhances our firm’s capabilities and ability to hire additional military veterans,” said Phil McConkey, President of Academy Securities. “We are honored to be mentored and supported by such a respected group that shares our mission to employ veterans.”
“Academy Securities offers the client services and opportunities for veterans that this market needs. Talented men and women are returning from overseas to face a challenging job market, ” said John Mack, Former Chairman & CEO of Morgan Stanley. “I am proud to invest in Academy Securities and support in anyway I can.”
Academy is a protégé to JPMorgan Chase under the U.S. Department of the Treasury’s Mentor-Protege program. Through an agreement with the firm, JPMorgan Chase provides mentorship to Academy Securities, offering training and consultation on overall business and organizational management. Academy also has a clearing agreement with JPMorgan Chase.
About Academy Securities
Academy Securities is an institutional broker dealer that brings together U.S. military veterans and seasoned industry experts to provide financial solutions to investment managers, public, corporate, and multi-employer pensions as well as municipalities, government agencies and corporate entities. The firm has offices in New York, Chicago, Chapel Hill, and San Diego and is a FINRA-registered Broker-Dealer, California-certified Disabled Veteran Business Enterprise (DVBE), Certified Minority Business Enterprise (MBE), Service Disabled Veteran Owned Small Business (SDVOSB), and SIPC member. Information about Academy Securities is available at www.academysecurities.com.