News from The Street
Session recap: IPOs are hot
Thanks to a strong US capital market and higher valuations, companies are opting to go public rather than entertain mergers and acquisitions, according to a panel of speakers with their fingers on the pulse of what’s happening in transaction activity.
Professionals from EY, NASDAQ and Barclays shared current trends and their predictions for 2014 and during “News on The Street,” one of several sessions geared toward attendees thinking about going public.
When it comes to IPOs, absent anything happening between now and the end of the year, the market may surpass 2007 levels, indicated Brian M. Reilly, Managing Director, Barclays.
The M&A market is tepid in contrast, due to a massive amount of geopolitical uncertainty. The good news is there’s optimism and pent-up desire for growth. It’s going to take clarity to spark an increase, said Richard Jeanneret, EY’s Americas Vice Chair, Transaction Advisory Services.
News from The Street
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Richard Jeanneret is the EY Americas Vice Chair, Transaction Advisory Services and a member of the Americas Executive Board. The Americas Area of the global EY organization includes more than 2,500 professionals across the US, Canada, Mexico, Central and South America, and Israel. Rich has three decades of transaction experience with private and public companies, advising on M&A for corporations and financial buyers, public company spinoffs and IPOs. He is a member of the American Institute of CPAs and the Economic Clubs of New York and Washington. He sits on the National Board of Directors of the Leukemia & Lymphoma Society.
Robert H. McCooey, Jr. is a Senior Vice President of NASDAQ OMX and is responsible for Relationship Management with NASDAQ’s 2,800 listed companies. Previously, Mr. McCooey ran New Listings and the Capital Markets Group at NASDAQ. In this role, Mr. McCooey managed NASDAQ’s new listings efforts domestically, in the Americas and throughout the Asia-Pacific region. Prior to joining The NASDAQ Stock Market, Inc., Mr. McCooey founded and served as the Chief Executive Officer of The Griswold Company from 1988 until 2006. He was a member of the New York Stock Exchange Board of Executives from 2003 to 2006.
Brian M. Reilly is a Managing Director and Head of Americas Equity Capital Markets at Barclays in New York. Mr. Reilly has over 19 years of experience executing over 100 capital markets and M&A transactions. Previously, he was Head of Asset Management within Investment Banking at Barclays and Head of the Communications, Media and Internet vertical within Equity Capital Markets at Lehman Brothers. He also worked as a corporate lawyer for Simpson Thacher & Bartlett in New York and as a clerk for a federal judge. Mr. Reilly earned his JD from Yale Law School and his BA from Yale University.