Cain Brothers has announced several personnel additions and management changes as it pursues its continued growth strategy as the largest dedicated health care investment bank based in the U.S.

Andrew Garvey, Head of Capital Markets, announced that Cain Brothers has hired Joseph P. Mulligan and Sara Kisner as members of its Health Care Capital Markets Division to continue to build on Cain Brothers’ leadership position as a provider of innovative and tailored investment banking services to the Senior Health and Housing Industry. Mr. Mulligan joins as a Managing Director in the Firm’s new St. Louis office after an 18-year career at A.G. Edwards building a national client-focused Senior Health and Housing practice. He previously coordinated the senior living finance practice nationally for A.G. Edwards and Wachovia Securities, where he was responsible for the origination of more than $2.5 billion of health care and senior living financings for clients in 29 states. Ms. Kisner joins as a Vice President, also in St. Louis, after a 10-year career at A. G. Edwards, initially in the credit research area and most recently as a member of the investment banking team. Cain Brothers is an acknowledged leader in the not-for-profit Senior Health and Housing Industry having completed the industry’s largest transaction in 2007 as well as being ranked consistently as a top three senior managing underwriter.

Mr. Garvey also announced that Roger Glasbrenner has joined the Firm as a Managing Director in the Health Care Capital Markets Division. Mr. Glasbrenner will work in the Firm’s Sales, Trading, and Underwriting business, focusing on providing optimal financing structures for the Firm’s issuing and investing clients. Mr. Glasbrenner has a wide range of industry experience, having worked as an institutional salesman at UBS for the last 15 years and prior to that at DLJ and L.F. Rothchild. Mr. Glasbrenner has built a particular expertise in the Health Care, Senior Living, and High Yield markets over his career, and he has deep relationships with many of the largest institutional investors in the tax-exempt bond market.

Additionally, Mike Fitzsimons, who joined Cain Brothers in January 1990 and has been the senior member of the Firm’s Sales, Trading, and Underwriting team, announced his retirement, to become effective after a short transition period. Mr. Fitzsimons initiated discussions with the Firm regarding his retirement earlier in the year, and he has played a key role in ensuring a smooth transition. Mr. Fitzsimons made a major contribution to Cain Brothers in beginning its securities underwriting and distribution business and expanding it greatly with his partner, E.C. Hoffman, who joined him in 1996. Mr. Fitzsimons has had a successful career that dates back to his first position at Reynolds Securities in 1972 and included an ownership interest in Tripp & Company and other positions at Kidder Peabody and Drexel Burnham prior to joining Cain Brothers. Mr. Fitzsimons said, “My position at Cain Brothers has been the longest and most satisfying of my career. I have seen the Firm grow and prosper, and I am very pleased to leave my part of the organization in the extremely capable hands of E.C. Hoffman and his new partner, Roger Glasbrenner.”

Mr. Hoffman will immediately assume Mr Fitzsimons’ position as Head of Sales, Trading, and Underwriting. Mr. Fitzsimons remains a Managing Director and a Cain Brothers shareholder, and he will continue to commit for the Firm until a formal retirement date is established. Messrs. Hoffman and Fitzsimons have worked seamlessly together for over twelve years and will continue to do so during the transition period.

Jim Cain, CEO of Cain Brothers said, “Although we are very sorry to lose Mike, at the same time we are excited about the capabilities of our Sales, Trading, and Underwriting team going forward and the addition of two very experienced Senior Health and Housing Industry bankers. I am pleased that we continue to strengthen the Firm’s overall capabilities and the services it provides to its clients.”

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Contacts:

Andrew Garvey
212-869-5600
agarvey@cainbrothers.com

Jim Vaughan
212-981-6929
jvaughan@cainbrothers.com