Boenning & Scattergood has recruited two dealmakers to open an investment banking office in Cleveland.
The West Conshohocken, Pa., firm has recruited Charles R. Crowley and Michael C. Voinovich to serve as managing directors of its new Ohio office.
The pair have worked together for 14 years, most recently at Paragon Capital Group, also in Cleveland. Previously they worked for Stifel Nicolaus.
"We are extremely excited to have Charlie and Mike join our team," Harold F. Scattergood, Jr., the chairman and chief executive of Boenning, said in a press release Monday. "They have demonstrated an ability to adapt to the needs of their clients through various market cycles and have built a superb reputation in the industry."
Boenning previously operated a sales and trading office in Ohio.
"We are eager to be expanding our existing effort in Ohio, where we see tremendous opportunity," Scattergood said in the release.
Crowley said in the release that he and Voinovich will be able to offer a broader array of services at their new firm.
"Boenning & Scattergood is perfectly suited to help our clients in the years ahead," he said. "With access to the suite of products and services at the firm including fixed income, retail and institutional distribution and market making with a community bank focus, we will be able to better serve our clients."
It could also mean bigger deals.
"Boenning has the capacity to execute larger deals and remains very committed to the middle market, as there are many banks across the country that are underserved," Crowley said.