Raymond James is expanding its international automotive and aftermarket investment banking practice with the hiring of Todd Cassidy as managing director. Cassidy, based in Chicago, will focus on middle-market automotive parts, aftermarket providers and services companies in the following sectors: advanced materials, metals and plastics processing, electronics, engineered products and integrated technology.
Cassidy will partner with the firm’s European automotive bankers to support the growing need for capital and robust appetite for M&A in the global auto supply market.
“Raymond James’ expansion into the broad automotive and aftermarket sectors could not be timelier,” said Cassidy. “At over $1 trillion in aggregate sales globally, these markets are collectively one of the largest contributors to industrial economies. Rapid innovation in performance and fuel economy, consumer electronics integration, semi- and full-autonomous driving systems, and safety has led to an increased need for capital formation and elevated levels of M&A in all segments of the auto supply market.”
“The automotive sector is a core focus area for the firm as we continue to build out our international banking capabilities,” said Jim Bunn, head of Investment Banking at Raymond James. “Todd’s industry insight and commitment to client service are vital to the continued growth and success of this key international sector.”
In June, Raymond James purchased Mummert & Co., a leading middle market M&A advisory firm with automotive-sector expertise, located in Munich, Germany.
“Adding Todd accelerates the buildout of our worldwide capability to execute mid-market transactions with OEMs and automotive suppliers,” said Dirk Liedtke, managing director of the firm’s European Advisory practice. “Todd’s deep understanding of the sector paired with Raymond James’ extensive platform of services will help our clients achieve success.”
Cassidy joins Raymond James from William Blair after nearly 10 years in its investment banking group, most recently as its lead automotive and aftermarket coverage officer. He also previously was a planning analyst and engineer at Ford Motor Co. He holds bachelor’s degrees in mechanical engineering and philosophy from the University of Notre Dame, a master’s in mechanical engineering from the University of Michigan and an Master of Business Administration from Harvard University.
