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Novantas Acquires Spear Rai & Co., Capital Markets Consultancy
Posted August 11, 2011
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NEW YORK - Novantas Inc, the leading provider of management consultancy and information services to the financial services industries, today announced the acquisition of Spear Rai & Co., a Capital Markets Consultancy based in Greenwich, CT.
Spear Rai & Co principals Rick Spear and Aviral Rai are veteran consultants with both operating experience and advisory expertise in issues facing Investment Banks, Hedge Funds and trading operations. As Wall Street executives, they have each built successful careers, leading companies through times of significant market change. As consultants, they have advised both sell-side and buy-side clients on issues of profitability, growth strategy, and operating effectiveness.
"Aviral and Rick are highly qualified to help Novantas expand its Capital Markets consulting practice", said Novantas Co-CEO Rick Spitler. "And their industry experience brings immediate value and market insights to our banking clients seeking new opportunities to grow share of wallet."
"Novantas provides a distinctive platform for extending our services," said Rick Spear. "The Firm's capabilities in wallet modeling as well as risk management are highly applicable to securities clients ranging from broker-dealers and universal banks, to hedge funds and exchanges. Aviral Rai adds: "Our work, coupled with Novantas's deep knowledge of retail and corporate banks, will help us significantly expand our offerings to the securities industry."
Prior to Spear Rai & Co, Rick Spear was a Managing Director at Knight Libertas, and the Global Head of Strategy and Business Development at Knight Capital. Previously, he was Head of Oliver Wyman's US Capital Markets Practice, and worked at Booz Allen & Hamilton as well as Morgan Stanley. Rick graduated with distinction from Stanford University.
Aviral Rai was the CEO of Greywolf Equity Partners, a NYSE member firm. Previously, he was Co-Head of Investment Banking at Pali Capital and a Senior Managing Director at Bear Stearns. Prior to Bear, Aviral worked at Booz, Allen & Hamilton and Morgan Stanley.
Rick Spear and Aviral Rai will join Novantas as Partners and co-lead Novantas's initiatives in Capital Markets operating out of the Firm's New York headquarters.
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