American Securities Association Formed to Represent Main Street Securities Dealers

Washington, D.C.—The American Securities Association (ASA) has been formed to advance the business, market, regulatory and legislative interests of American middle-market and regional investment banks and securities dealers. The ASA will operate as an umbrella organization for the Bond Dealers of America (BDA), which for more than eight years has represented the unique interests of fixed income firms, and for the newly launched Equity Dealers of America (EDA), distinctly focused on equity-specific matters. This organizational structure is designed to provide a complete and unifying platform to address issues significant to Main Street investment banks and securities dealers as well as their executive leadership.

“Deep roots and knowledge of local markets allow ASA member firms to better serve their communities than larger Wall Street firms. It is why we are trusted sources of financial advice for individuals and families and the reason investors, schools, hospitals and companies rely on us,” said Curt Bradbury, Chief Operating Officer of Stephens Inc., and the inaugural Chair of the ASA. “Washington’s one-size-fits-all approach to industry regulation disproportionately harms our ability to drive economic recovery and job creation, which is vital to the regions we serve, and surely is not the intended purpose. To remedy this, the ASA brings together the highest-level of industry leadership who share a vision for proscriptive change.”

In addition to Mr. Bradbury, the ASA Board includes: John B. Jung, Jr., Head of Capital Markets BB&T Securities; Noe Hinojosa Jr., President and CEO, Estrada Hinojosa; Jonathan E. Baum, CEO, George K. Baum & Company; Hill A. Feinberg, Chairman & CEO, Hilltop Securities; Douglas Preiser, Co-Chief Operating Officer, KeyBanc Capital Markets; Andrew Duff, Chairman and CEO, Piper Jaffray; Paul Reilly, CEO, Raymond James Financial; Paul Purcell, Chairman, Robert W. Baird & Co.; Ronald J. Kruszewski, Jr., Chairman, President and CEO, Stifel Nicolaus & Company; Mark A. Medford, Chairman, President and CEO, Vining Sparks; John Ettelson, President and CEO, William Blair & Company; Gary Wunderlich, CEO, Wunderlich Securities; and Thomas R. Paprocki, CEO, Ziegler.

As an ASA affiliate, the EDA is modelled after the BDA and exclusively represents the equity markets interests for the retail and institutional operations of its middle-market financial services firm members. Chris Iacovella has been appointed Chief Executive Officer of the EDA. Mr. Iacovella most recently worked as Senior Director of Global Government Affairs, Strategy and Public Policy at Bloomberg, L.P. Previously he was Special Counsel & Policy Advisor to Commissioner Scott O’Malia at the Commodity Futures Trading Commission and on the staff of the Committee on Financial Service in the U.S. House of Representatives. Founding members of the EDA are BB&T Securities, Hilltop Securities, Janney Montgomery Scott, KeyBanc Capital Markets, Piper Jaffray, Raymond James Financial, Robert W. Baird & Co., Stephens Inc., Stifel Nicolaus & Company, William Blair & Company, and Wunderlich Securities.

“The BDA is already a proven force on behalf of its 57 fixed income members, having helped to persuade FINRA to withdraw its CARDS proposal and crystalizing the underwriter exemption in the SEC’s final Municipal Advisor Rule, among many other achievements. This momentum sets the tone and approach for the ASA and EDA; and through our collective efforts, middle market investment banks and securities dealers will be better positioned to overcome the burden of undifferentiated regulation,” concluded Mr. Bradbury.

Media contact

Jon Teall at (212) 317-8296 or jteall@teallassociates.com

About the American Securities Association

The American Securities Association represents the investment banks, broker dealers, banks and wealth managers that serve Main Street and “Finance the Growth and Prosperity of America.” The mission of the ASA is to provide more complete representation, a leadership platform and a voice for middle market investment companies and their executive leadership. The ASA will advance the financing of the nation’s infrastructure, the creation of jobs and increased prosperity through the promotion of free market capitalism and a low cost of capital. For more information, visit www.americansecurities.org.

About the Equity Dealers of America

The Equity Dealers of America exclusively represents the equity market interests for the retail and institutional operations of its middle-market financial services firm members. Recognizing their unique business, market and regulatory needs, the EDA works to provide more complete representation, a leadership platform and a voice for middle-market securities firms and their employees. The EDA will advance job creation and increased prosperity by promoting free market principles and access to capital. EDA members directly represent the interests of retirees, providing Main Street businesses with access to capital and advising hardworking Americans on how to create and preserve wealth. For more information, visit www.equitydealers.org.

About the Bond Dealers of America

Since its founding in 2008, the Bond Dealers of America has been the Washington, DC based organization that represents securities dealers and banks predominantly focused on the U.S. fixed income markets. The BDA remains the only organization representing the unique interests of national, middle-market dealers. In addition to federal advocacy and formulation of market practice guidelines, the BDA hosts a series of meetings and conferences specific to domestic fixed income, in addition to industry surveys and reports. For more information, visit www.bdamerica.org.