Siebert Financial Launches Investment Banking Division, Adding Industry Leaders Kimberly Boulmetis and Ajay Asija as Co-Heads

MIAMI and NEW YORK, Feb. 11, 2025 (GLOBE NEWSWIRE) -- Siebert Financial Corp. (NASDAQ:SIEB) has launched Siebert Investment Banking, a strategic expansion designed to serve middle-market clients often overlooked by larger financial institutions. Leading this new division are Kimberly Boulmetis and Ajay Asija, two seasoned professionals with extensive experience in capital markets, M&A, and financial advisory services.

Siebert Investment Banking will initially focus on providing tailored solutions for underserved companies in financial services in FinTech, depository, and specialty finance, expanding the practice into blockchain and digital assets and building additional verticals over time. In addition to the existing institutional distribution channels, the new division will be able to leverage Siebert's extensive retail distribution network. The firm is uniquely positioned to provide certainty of execution in equity and debt financings while offering a client-centric, transparent business model that attracts top banking talent.

John J. Gebbia Sr., CEO of Siebert Financial, emphasized the firm's strategic vision. "Investment banking is a natural extension of Siebert's commitment to providing best-in-class financial solutions to its clients. Kimberly and Ajay bring the expertise and leadership necessary to develop a strong platform, serving a vital market segment."

Asija and Boulmetis' appointment strategically complements the recent expansion of the firm with the Capital Markets Group, led by Randy Billhardt complementing Siebert's existing strengths.

Ajay Asija, bringing over 25 years of experience in investment banking, has advised on over $90 billion in transactions throughout his career at firms including Lehman Brothers, J.P. Morgan, Bear Stearns, and B. Riley. Most recently, he served as CFO of BM Technologies, a publicly traded FinTech company, orchestrating its successful sale to First Carolina Bank. His M&A and strategic financial advisory expertise make him a key driver in Siebert's expansion.

"The middle market deserves the same level of expertise and execution as larger firms," said Asija. "Siebert's platform offers the ideal foundation to deliver trusted high-quality advisory services to clients who need them most."

With over 25 years of experience in debt capital markets and financial institutions advisory, Kimberly Boulmetis most recently was the head of U.S. Financial Institutions for the DCM Group at Mitsubishi UFJ Financial Group (MUFG) where she was responsible for covering a broad roster of financial institution clients – including banks, insurance companies, asset management firms, private equity sponsors, business development companies (BDCs) and closed-end funds.  She has a deep knowledge of markets, providing her clients with innovative strategic and financing solutions in both public & private markets. One of her major areas of focus is helping '40 Act companies, specifically BDCs and Closed-End Funds, optimize their cost of capital.

"I am so excited to join Siebert, a firm that was originally founded by Muriel Siebert, a true trailblazer, with current leadership that honors her legacy with incredible focus, drive, and the desire to continue to strategically enhance the firm for our clients' benefit," said Boulmetis. "Siebert's current platform, coupled with the areas that the firm is building out, will allow Randy, Ajay & I to be extremely well-positioned to truly add value to our clients from a corporate advisory and capital raising perspective."

Randy Billhardt, Head of Capital Markets at Siebert, comments, "Investment banking at Siebert will be defined by its ability to provide a boutique, high-touch experience while leveraging the firm's broad distribution network. I am proud to welcome Kimberly and Ajay to Siebert, adding their deep expertise and leadership to our growing capabilities."

About Siebert Financial Corp.

Siebert is a diversified financial services company and has been a member of the NYSE since 1967 when Muriel Siebert became the first woman to own a seat on the NYSE and the first to head one of its member firms.

Siebert operates through its subsidiaries Muriel Siebert & Co., LLC, Siebert AdvisorNXT, LLC, Park Wilshire Companies, Inc., RISE Financial Services, LLC, Siebert Technologies, LLC, and StockCross Digital Solutions, Ltd, and Gebbia Entertainment LLC. Through these entities, Siebert provides a full range of brokerage and financial advisory services, including securities brokerage, investment advisory and insurance offerings, securities lending, and corporate stock plan administration solutions, in addition to entertainment and media productions. For over 55 years, Siebert has been a company that values its clients, shareholders, and employees. More information is available at www.siebert.com.

Cautionary Note Regarding Forward-Looking Statements

The statements contained in this press release that are not historical facts, including statements about our beliefs and expectations, are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements preceded by, followed by, or that include the words "may," "could," "would," "should," "believe," "expect," "anticipate," "plan," "estimate," "target," "project," "intend" and similar words or expressions. In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances are forward-looking statements.

These forward-looking statements, which reflect beliefs, objectives, and expectations as of the date hereof, are based on the best judgment of the management of Siebert. All forward-looking statements speak only as of the date on which they are made. Such forward-looking statements are subject to certain risks, uncertainties and assumptions relating to factors that could cause actual results to differ materially from those anticipated in such statements, including, without limitation, the following: economic, social and political conditions, global economic downturns resulting from extraordinary events; securities industry risks; interest rate risks; liquidity risks; credit risk with clients and counterparties; risk of liability for errors in clearing functions; systemic risk; systems failures, delays and capacity constraints; network security risks; competition; reliance on external service providers; new laws and regulations affecting Siebert's business; net capital requirements; extensive regulation, regulatory uncertainties and legal matters; failure to maintain relationships with employees, customers, business partners or governmental entities; the inability to achieve synergies or to implement integration plans; and other consequences associated with risks and uncertainties detailed in Part I, Item 1A - Risk Factors of Siebert's Annual Report on Form 10-K for the year ended December 31, 2023, and Siebert's filings with the SEC.

Siebert cautions that the foregoing list of factors is not exclusive, and new factors may emerge, or changes to the foregoing factors may occur that could impact its business. Siebert undertakes no obligation to publicly update or revise these statements, whether as a result of new information, future events, or otherwise, except to the extent required by the federal securities laws.

Media Contact

Deborah Kostroun, Zito Partners

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