Siebert Financial appoints Daniel Ondeck as head of institutional sales

NEW YORK - Siebert Financial Corp. (NASDAQ:SIEB), a profitable financial services firm with a market capitalization of $105 million, has appointed Daniel M. Ondeck as Head of Institutional Sales, the company announced Thursday.

Based in Washington, D.C., Ondeck will lead institutional client coverage and distribution across sector verticals while collaborating with Siebert’s investment bankers on origination and execution. The appointment comes as the company maintains strong financial health with a P/E ratio of 11.06 and revenue growth of 9% over the last twelve months.

Ondeck brings more than 20 years of experience in institutional sales and capital markets. He previously held senior sales positions at FBR Capital Markets and B. Riley Financial after beginning his career as an infantry Captain in the United States Marine Corps. He holds a B.A. from Denison University.

In his new role, Ondeck will partner with Siebert’s investment bankers to originate and distribute offerings across public and private markets, including structured debt and equity. He will also work with the research and trading teams to support institutional clients.

"Dan’s strong institutional relationships made him highly effective at raising capital at B. Riley, and I am delighted to reunite with him at Siebert," said Ajay Asija, Co-Head of Investment Banking at Siebert.

Randy Billhardt, Head of Capital Markets at Siebert, noted that Ondeck’s "relationships and sales leadership will help us to deepen coverage, broaden distribution, and support origination across public and private markets."

John J. Gebbia, CEO of Siebert Financial, stated that Ondeck’s appointment "underscores our commitment to growing Siebert’s institutional capabilities."

Siebert Financial Corp. has been a member of the NYSE since 1967, when founder Muriel Siebert became the first woman to own a seat on the NYSE. The company provides brokerage and financial advisory services through its various subsidiaries. According to InvestingPro, the company maintains a FAIR overall financial health score, with particularly strong metrics in growth and profitability. InvestingPro subscribers have access to over 30 additional financial metrics and exclusive insights about Siebert’s market position and growth potential.

This article is based on a press release statement from Siebert Financial Corp. For comprehensive analysis and real-time updates on Siebert’s financial performance, visit InvestingPro to access detailed financial metrics, expert insights, and exclusive ProTips about the company’s market position.

In other recent news, Siebert Financial Corp. has announced a strategic partnership with FusionIQ to enhance its digital wealth management offerings. The collaboration will see the implementation of FusionIQ’s cloud-native technology, aiming to streamline investment workflows and expand digital capabilities for Siebert’s clients. This development is part of Siebert’s broader strategy to offer modular solutions, including hybrid advice and self-directed investing. Additionally, Siebert Financial has set the stage for a potential capital raise of up to $100 million, following the effectiveness of its shelf registration statement as declared by the Securities and Exchange Commission (SEC). The company plans to use the proceeds from this potential capital raise to support strategic initiatives, including possible acquisitions and investments in digital assets like Bitcoin, Ethereum, and Solana. Furthermore, Siebert is focusing on developing its technology services with an emphasis on artificial intelligence (AI) solutions. These recent developments highlight Siebert’s efforts to expand and innovate in the financial services sector.

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