Enthrust Financial Services Inc., the parent of the investment banking company Rodman & Renshaw Holding LLC, has hired Michael Lacovara, Sandler O'Neill & Partners LP's co-chief operating officer and general counsel as its next chief executive.
Mr. Lacovara will join the New York company early next month, following approval by stockholders, Enthrust said.
Its current CEO, John J. Borer 3rd, is slated to become the head of investment banking.
Rodman & Renshaw, which Enthrust bought last month, specializes in investment banking for emerging growth companies. Sandler advised Enthrust on the Rodman acquisition.
Enthrust is expected to take the Rodman name.
Mr. Lacovara joined Sandler in 2004 from the law firm Sullivan & Cromwell LLP.
"We are thrilled for Michael; it's a great opportunity," said James J. Dunne 3rd, Sandler's senior managing principal.
Sandler most likely will fill the general counsel position internally, Mr. Dunne said.
