Morgan Joseph names Caroline Stewart biotech analyst as part of equity expansion

By Jennifer Chiou

New York, July 20 - Morgan Joseph & Co. Inc. announced the hiring of Caroline Stewart as a senior vice president covering biotechnology as part of an expansion of its equity sales and trading group. The firm also named Michael Weitzner as managing director and director of equity sales and sales trading.

In addition Morgan Joseph took on eight other former employees of Independent Research Group LLC, a recently disbanded subsidiary of TheStreet.com.

Weitzner, who is filling a new position, is a financial services executive with 17-plus years of experience.

He previously was managing director and head of international trading at ABN Amro/ING Barings.

"This move enables Morgan Joseph to provide a decidedly higher level of service to traditional institutional equity money managers, in addition to the hedge fund industry, where we have already been active," president and chief executive officer John F. Sorte said in a news release.

"We have for some time been considering expanding what previously had been a small institutional equity sales activity. Now, with our new, highly experienced team we will be able to better meet the capital markets needs of our expanding middle market corporate client base as well as make for an even more well-rounded investment firm."

New York-based Morgan Joseph is a full-service investment bank for middle market companies.

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