News

Westrock Group to Present at 66th Annual Convention of the National Congress of American Indians - Will Present at Luncheon on Tribal Economic Development Bonds (“TEDBs”); Focus on New Opportunity for Tribes

Wednesday, October 14, 2009 - 2:00pm

New York and Palm Springs, CA (October 14, 2009) – Financial services firm Westrock Group today will speak at a luncheon at the 66th Annual Convention of the National Congress of American Indians (“NCAI”). The NCAI Convention is being held this week at the Palm Springs Convention Center in California.

Dana Reed, Head of Marketing for Westrock Group and Dennis Ickes, Head of Tribal Services for Westrock Group will discuss next steps for Tribes that have received an allocation of tax-exempt Tribal Economic Development Bonds (“TEDBs”) from the U.S. Government. They will also provide information about the second round of the Government’s TEDB allocation now scheduled for January 2010.

“These new tribal bond allocations provide the first opportunity for Indian Country to work with a tribally-owned financial services company to access the capital markets in this way,” said Dana Reed. “We at Westrock are thrilled to be in a position to advise Tribes about the advantages these instruments can offer.”

In February, President Obama signed into law the American Recovery and Reinvestment Act of 2009 ("ARRA"), which authorized $2 billion in TEDBs. Westrock Group’s Tribal Services Advisory Group assists American Indian Tribes in gaining access to capital and will also advise on facilitating the funds of TEBD allocations.

On September 9, 2009, Westrock Group announced it had been acquired by the Lower Brule Sioux Tribe of Lower Brule, South Dakota, making it the first 100% tribally owned financial advisory firm and one of the largest minority-owned financial services firms in the country.

About Westrock Group, Inc.
Headquartered in New York, Westrock Group, Inc., is a financial services holding company offering a range of institutional and wealth management services. The Group is comprised of three subsidiaries: Westrock Advisors, Westrock Institutional Group and Westrock Asset Management.

Founded in 1995, Westrock Advisors and Monarch Financial are the firm’s flagship full-service independent broker-dealer. Dedicated to the needs of institutional and qualified investors, Westrock Institutional Group and Westrock Asset Management were established in August 2009. As of June 30, 2009, Westrock Group had approximately $1.2 billion in assets under management and 128 employees. http://www.westrockgroupinc.com.

For more information:
John McInerney
Makovsky + Company
(212) 508-9628 jmcinerney@makovsky.com

Liz Pierce
Makovsky + Company
(212) 508-9698 lpierce@makovsky.com

Westrock Group Appoints Dana Reed - Will Focus on Growing Newly Formed Westrock Institutional Group and Westrock Asset Management

Monday, September 14, 2009 - 9:30am

New York (September 14, 2009) – Westrock Group, Inc., a financial services holding company, today announced that Dana Reed has joined the firm as Head of Marketing. Ms. Reed will be responsible for overseeing all marketing and business development activities at Westrock, with a focus on growing the newly-formed Westrock Institutional Group and Westrock Asset Management.

“Dana brings a wealth of institutional client service expertise to Westrock. Her track record of success in investment banking and institutional sales demonstrates her keen ability to connect with people and grow relationships,” said Donald H. Hunter, Jr., President and Chief Executive Officer of Westrock Group. “In the new competitive landscape, the quality of your people and their ability to assist clients is paramount. Dana will be an asset to our firm.”

“I’m delighted to be joining Don and the team at Westrock,” said Ms. Reed. “I’m especially excited about the prospects of growth for both Westrock Institutional Group and Westrock Asset Management. Westrock has already established itself as a wealth manager of choice for individuals by offering customized products and a transparent investment process. I look forward to helping Westrock expand its presence among institutions.”

On September 9, 2009, Westrock Group announced it had been acquired by the Lower Brule Sioux Tribe of Lower Brule, South Dakota, making it the first 100% tribally owned financial services firm and one of the largest minority-owned financial services firms in the country. The firm’s Westrock Asset Management subsidiary recently entered into a joint venture with Creighton Capital Management. The joint venture will offer quantitative portfolios to institutions and other qualified investors.

Most recently, Ms. Reed was a Vice President in Institutional Sales at Friedman, Billings, Ramsey, where she began working in 2002. She earlier held positions in the investment banking divisions of J.P. Morgan, and Utendahl Capital Partners, where she helped start the firm’s corporate finance and advisory practice. She began her career in 1996 in the investment banking division of Goldman Sachs & Co. She received her M.B.A. from Howard University and also received her Bachelor of Business Administration degree from Howard University.

About Westrock Group, Inc.

Headquartered in New York, Westrock Group, Inc., is a financial services holding company offering a range of institutional and wealth management services. The Group is comprised of three subsidiaries: Westrock Advisors, Westrock Institutional Group and Westrock Asset Management.

Founded in 1995, Westrock Advisors is the firm’s flagship full-service independent broker-dealer. Dedicated to the needs of institutional and qualified investors, Westrock Institutional Group and Westrock Asset Management were established in August 2009. As of June 30, 2009, the firm had approximately $1.4 billion in assets under management and 150 employees. http://www.westrockgroupinc.com
.

For more information:
John McInerney
(212) 508-9628 jmcinerney@makovsky.com

Liz Pierce
(212) 508-9698 lpierce@makovsky.com

Westrock Asset Management and Creighton Capital Management Form Joint Venture - Subsidiary of 100% Native-American-Owned Financial Services Firm Joins Forces with Asset Management Firm

Wednesday, September 9, 2009 - 5:15am

New York, New York, and Sausalito, California (September 9, 2009) – Westrock Asset Management, a subsidiary of New York-based financial services holding Westrock Group, today announced the formation of a joint venture with Creighton Capital Management.

Westrock Asset Management and Creighton Capital Management will jointly develop quantitative asset management portfolios for institutional and qualified investors. The joint venture will initially offer the following products: an Investment Grade Bond Fund, a High Yield Bond Fund and a Global Equity Market-Neutral Fund. The initial funds are expected to be available later this fall and additional products will be released throughout 2010.

Creighton Capital Management was founded and is managed by Jim Creighton, who has over 30 years of asset management experience and previously served as Chief Investment Officer at three of the world’s largest investment management firms: Barclays Global Investors, Deutsche Asset Management and Northern Trust. Creighton Capital Management has a team of highly qualified investment professionals and research staff who are used to operating at the highest level of institutional scale. The firm has invested substantial capital over the past five years to develop a unique statistical method to model global markets and optimize portfolios to achieve client investment objectives within tightly controlled risk profiles.

“Jim is a towering figure in the asset management world and we’re delighted to form this joint venture with his firm,” said Donald J. Hunter, Chief Executive Officer and President of Westrock. “The partnership substantially extends our reach to institutions and makes Westrock one of the few minority-owned firms to offer quantitative products. We expect that this best-in-class offering will make a powerful contribution to our firm’s success.”

In a separate announcement today, the parent company of Westrock Asset Management, Westrock Group, announced that it had been acquired by the Lower Brule Sioux Tribe. With this transaction, Westrock Group becomes the first U.S. full service financial services firm to be wholly-owned by a Native American Tribe.

“We’re excited to be working with Don Hunter and the Westrock Asset Mangement team,” said Jim Creighton, Chief Executive Officer of Creighton Capital Management. “Through our relationship with Westrock, we will be able to deliver cutting edge products to institutional and qualified investors. In addition to producing tangible benefits for our clients, we are excited about the ability to contribute to the economic development of the Lower Brule Sioux Tribe through this venture.”

About Creighton Capital Management
Located in Sausalito, CA, Creighton Capital Management is an asset management firm that was founded in 2004 by James Creighton and specializes in offering quantitative investment products to qualified investors. More information on Creighton Capital is available at: www.creightoncapital.com.

About Westrock Group, Inc.
Headquartered in New York, Westrock Group, Inc., is a financial services holding company offering a range of institutional and wealth management services. The Group is comprised of three subsidiaries: Westrock Advisors,Westrock Institutional Group and Westrock Asset Management.

Founded in 1995, Westrock Advisors is the firm’s flagship full-service independent broker-dealer. Dedicated to the needs of institutional and qualified investors, Westrock Institutional Group and Westrock Asset Management were established in August 2009. As of June 30, 2009, the firm had approximately $1.4 billion in assets under management and 150 employees. [http://www.westrockgroupinc.com/ ]

Media Inquiries:

John McInerney
(212) 508-9628 jmcinerney@makovsky.com
Liz Pierce
(212) 508-9698 lpierce@makovsky.com
Both of Makovsky + Co.

Westrock Group Acquired by Lower Brule Sioux Tribe - Creates First 100% Native-American Tribally Owned Financial Services Firm; Sees Major Opportunities with Institutional Investors and in Tribal Finance

Wednesday, September 9, 2009 - 5:00am

New York, New York, and Lower Brule, South Dakota (September 9, 2009) – Westrock Group, Inc., a New York-based financial services holding company with independent broker-dealer, asset management and wealth management subsidiaries, today announced that the firm has been acquired by the LBC Western Holdings, LLC, a company 100% owned by the Lower Brule Sioux Tribe, located in Lower Brule, South Dakota. With this transaction, Westrock Group becomes the first Native American owned full service financial services business.

“This is a landmark event for our Tribe and for all American Indians,” said Michael B. Jandreau, Chairman of the Lower Brule Sioux Tribe. “Over the past three years, we have gotten to know Don and his team at Westrock and admire what they have accomplished. The Lower Brule Sioux Tribe has made an investment in Westrock to diversify our sources of revenue and participate directly in the United States capital markets. We believe this investment will make a significant contribution to our Tribe and other tribes throughout the nation as Westrock expands its institutional capabilities and continues its wealth management activities. We look forward to a long and productive relationship.”

Through Westrock’s Tribal Services Advisory group, Westrock will begin to provide financial advisory services to the Lower Brule Sioux Tribe and other tribes throughout the country. The Tribal Services Advisory group will be headed by Dennis Ickes, Director of Tribal Services. He will be joined by Dr. Gavin Clarkson, Director of Tribal Finance at Westrock, a professor of law at the University of Houston Law Center and a member of the Choctaw Nation of Oklahoma. Dr. Clarkson is one of the country’s leading authorities on tribal financial matters.

“We’re thrilled and honored to be part of this historic transaction,” said Donald J. Hunter, Chief Executive Officer and President of Westrock. “Westrock is a nimble firm and we will take advantage of the new opportunities available in the evolving financial services sector. Becoming a 100% Native-American-owned firm will allow us to expand initiatives we’ve begun this year, particularly through the joint venture announced today with Westrock Asset Management and Creighton Capital Management. We will extend our reach to institutions and improve our service offerings to all clients. Most important, we believe that Westrock will make a powerful contribution to the lives of the Lower Brule Sioux Tribe.”

With the transaction, Mr. Jandreau will remain Chairman of LBC Western Holdings, LLC, the holding company for Westrock. Anthony Fenton will serve as Chairman of Westrock Group. Mr. Hunter will continue to serve as Chief Executive Officer and President of Westrock Group and its principal subsidiary, Westrock Advisors, and the current senior executive team will remain in place. The Board of Directors of LBC Western Holdings, LLC will consist of three representatives from the Lower Brule Sioux Tribe, Mr. Jandreau, John McCauley, Tribal Secretary and Council Member; Darrell Middletent, Council Member; and two representatives from Westrock Group, which are Mr. Fenton and Mr. Hunter.

Westrock will continue to operate as an independent broker-dealer with its brokerage, asset management and wealth management subsidiaries, and day-to-day operations unchanged. Last month, Westrock added a team of veteran institutional professionals to form two new units: Westrock Institutional Group, a separate subsidiary serving institutional clients and offering domestic and international equities and specialized, non-proprietary trading, and Westrock Asset Management, a separate entity that will provide asset management services. In 2008, Westrock integrated its purchase of Monarch Financial, a fixed-income platform with a complete selection of maturities and ratings, which complements the firm’s equity offering.

In a separate announcement today, Westrock Asset Management announced the formation of a joint venture with Creighton Capital Management. Founded in 2004, Creighton Capital Management is a quantitative asset management firm founded by Jim Creighton, a former Global CIO at each of Barclays Global Investors, Northern Trust and Deutsche Asset Management.

Westrock Asset Management and Creighton have jointly developed a quantitative asset management business designed to be best-in-class. Westrock will be one of the few minority-owned firms to offer quantitative products. The joint venture will offer the following portfolios: US Quantitative Equity Long, Global Quantitative Equity Long (ex-US), Global Quantitative Equity Market-Neutral. The joint venture will also offer yield-enhanced portfolios to high net worth and other qualified investors which will include investment grade and high-yield term bond funds. Jim Creighton will be the Portfolio Manager of the joint venture.

About the Lower Brule Sioux Tribe

The Lower Brule Sioux Tribe, the Kul Wicasa Oyate, are descendents of a large group of related families within the Lakota Nation who were the original inhabitants of the plains and prairies between the Rocky Mountains and the Great Lakes within the basin of the Missouri River.

Today, the Tribe resides on the Lower Brule Sioux Reservation in South Dakota. The tribe currently owns and operates several profitable businesses:
• Lakota Foods – a food manufacturer that includes one of the largest producers of popcorn www.lakotafoods.com
• Lower Brule Employment Enterprise – a construction company active on and off the Reservation
• Lower Brule Farm Corporation – involved in farming and ranching on 45,000 acres http://www.lbst.org/newsite/home.htm

About Westrock Group, Inc.

Headquartered in New York, Westrock Group, Inc., is a financial services holding company offering a range of institutional and wealth management services. The Group is comprised of three subsidiaries: Westrock Advisors, Westrock Institutional Group and Westrock Asset Management.

Founded in 1995, Westrock Advisors is the firm’s flagship full-service independent broker-dealer. Dedicated to the needs of institutional and qualified investors, Westrock Institutional Group and Westrock Asset Management were established in August 2009. As of June 30, 2009, the firm had approximately $1.4 billion in assets under management and 150 employees. http://www.westrockgroupinc.com.

For more information:
John McInerney
(212) 508-9628 jmcinerney@makovsky.com
Liz Pierce
(212) 508-9698 lpierce@makovsky.com
Both of Makovsky + Co.

Douglas Sherman, Paul Krake and David Brown Join Westrock Group To Form Westrock Institutional Group

Monday, August 17, 2009 - 9:30am

New York – Westrock Group, Inc., a financial services holding company, today announced that Douglas Sherman, Paul Krake and David Brown have joined the firm. The team will form the nucleus of Westrock Institutional Group, a new group subsidiary dedicated to serving the investment and trading needs of institutional clients, and Westrock Asset Management, which will be a separate entity that will provide asset management services.

“Westrock Institutional Group and Westrock Asset Management create new strategic pillars for the firm,” said Donald H. Hunter, Jr., President and Chief Executive Officer of Westrock Group. “We will provide financial services and advice to every facet of the investment process, from portfolio construction to trade execution”. Doug, Paul and Dave are senior professionals with proven track records in serving the institutional marketplace. I believe that they will significantly expand our client base and make Westrock Institutional Group and Westrock Asset Management major contributors to the firm’s profitability.”

Westrock Institutional Group will offer global trade execution services and customized quantitative research for clients. Westrock Asset Management will offer both traditional and customized alternative investment solutions through a transparent investment process. It is expected that the groups will become fully operational in the next several weeks.

Doug Sherman will serve as Head of Westrock Institutional Group and Paul Krake will serve as Head of Westrock Asset Management. Most recently, Doug oversaw trading at an international hedge fund he helped found in 2000 with other international traders from SAC Capital. Doug joined SAC capital in 1998 as Head Trader - International Desk. From 1989 until leaving SAC Capital, Doug was a Partner at Israel Englander, Inc. where he worked for 10 years co-running floor operations. He began his career in 1985 as an options trader at Drexel Burnham Lambert. Over the past several months, Doug has been advising Westrock Advisors on strategic developments.

Paul Krake, Head of Westrock Asset Management, has 17 years of asset management and trading experience. He brings to Westrock management expertise from both buy-side and sell-side organizations and global relationships. Prior to joining Westrock, he was the Founder and Managing Partner of Corus Capital Management, a multi-strategy hedge fund with offices in New York and Sydney. Before forming Corus in 2005, he was a global macro Portfolio Manager with Caxton Associates from 2000-2004 and a macro-Asian Analyst with Moore Capital Management from 1998-2000. Paul’s earlier sales experience was within equity derivatives at Goldman Sachs in Hong Kong, and with Macquarie Bank in Sydney where he began his career. Paul holds a Bachelor of Economics and Politics from Monash University in Melbourne, Australia.

David Brown, Head of Institutional Trading, brings over 15 years of trading experience to Westrock. He brings strong management and business development skills, extensive trading experience in several markets and a deep understanding of business process and technology. Most recently Dave was a senior proprietary trader at the Abbey Bank subsidiary of Banco Santander, where he built a proprietary pairs trading desk. From 1999-2002, Dave was a market maker at Herzog, Heine and Geduld, and from 1995-1999 served various trading and trading technology development roles with Merrill Lynch. From 1990-1995, he helped build an agency equity and option business at boutique Jonathan Foster & Co. Dave holds a M.S. in Financial Mathematics from the University of Chicago, and a B.A. in Economics from New York University.

About Westrock Group, Inc.
Headquartered in New York, Westrock Group, Inc., is a financial services holding company offering a comprehensive range of financial products and services for retail and institutional investors. Founded in 1995, the firm’s full-service independent broker-dealer, Westrock Advisors, Inc., offers a comprehensive range of financial and wealth management services for retail and institutional investors. Through its Monarch Financial subsidiary, the firm offers a fixed-income platform and equity trading. As of June 30, 2009, the firm had approximately $1.4 billion in assets under management and 50 employees.

For more information:
John McInerney
(212) 508-9628 jmcinerney@makovsky.com
Liz Pierce
(212) 508-9698 lpierce@makovsky.com
Both of Makovsky + Co.

Donald H. Hunter, Jr., Named Chief Executive Officer and President of Westrock Group and Westrock Advisors, Inc.

Tuesday, August 11, 2009 - 9:30am

New York – Westrock Group, Inc., a financial services holding company, today announced that Donald H. Hunter, Jr., has been named Chief Executive Officer and President of the firm and its full-service, independent broker-dealer and wealth management subsidiary, Westrock Advisors, Inc. He was formerly Chief Operating Officer, a position he has held since 1997. Mr. Hunter replaces Gregory Martino, who will become a consultant to the firm.

“I’m excited to be leading Westrock at a time when institutional and individual investors are looking for the best partner they can find,” said Mr. Hunter. “The events of the last year have rearranged the competitive landscape. Size no longer provides the advantage it once did. We will be able to bring nimble solutions to our clients, recruit outstanding talent, develop new business lines, and make strategic partnerships that will lay the foundation for Westrock’s long term success”.

Mr. Hunter brings Westrock a wealth of knowledge and financial services expertise. He joined the firm in 1995 as a Managing Director and became a Partner in 1997. Since then, he has been involved in every area of the firm’s day-to-day business and operations.

Having begun his career working at Drexel Burnham Lambert in1989, Mr. Hunter worked as a broker at several other major investment houses, including Oppenheimer & Co. and Shearson Lehman Brothers, before joining Westrock in 1995. Mr. Hunter holds a B.A. in Psychology from Colgate University. He resides in Connecticut with his wife Erica.

About Westrock Group, Inc.

Headquartered in New York, Westrock Group, Inc., is a financial services holding company offering a comprehensive range of financial products and services for retail and institutional investors. Founded in 1995, the firm’s full-service independent broker-dealer, Westrock Advisors, Inc., offers a comprehensive range of financial and wealth management services for retail and institutional investors. Through its Monarch Financial subsidiary, the firm offers a fixed-income platform and equity trading. As of June 30, 2009, the firm had approximately $1.4 billion in assets under management and 50 employees.

For more information:
John McInerney
(212) 508-9628 jmcinerney@makovsky.com
Liz Pierce
(212) 508-9698 lpierce@makovsky.com
Both of Makovsky + Co.