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Concept Capital Hires WRG Sales and Trading Desk

Concept Capital, a New York City-based institutional broker, has hired the principals of the Washington Research Group (WRG) and its institutional sales and trading team.

The hire adds policy analysts, sector analysts, traders and sales trading staff to Concept Capital’s business. Concept Capital is working to build out its brokerage model to provide clients with value added research in addition to its trading capabilities.

In a statement, Ed Garlich, Managing Director of WRG, said, “The Concept Capital model appealed to us at WRG since it affords us a platform from which to continue providing proprietary research from Washington which will be value added to our institutional clients. We look forward to partnering with Concept Capital to provide the highest caliber of a broad range of institutional services to our clients.”

Robert E. Moore, Managing Director at Concept Capital, added, “Concept Capital has made growing its institutional sales and trading business a top priority in 2009 as we see tremendous opportunity to grow our business and fill the institutional service gap created by the collapse in a number of the bulge bracket firms. We are delighted to have the opportunity to bring on this well-established and well-respected institutional trading and research team.”

Rich Parker, who has been with WRG or several years and was most recently Head of Sales and Trading, will now be Head of Equities at Concept Capital.

The firm also has plans to expand its equities and fixed income businesses further in 2009.

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