IFMI Appoints Lester Brafman Chief Executive Officer

PHILADELPHIA and NEW YORK, Sept. 17, 2013 (GLOBE NEWSWIRE) -- Institutional Financial Markets, Inc. (NYSE MKT:IFMI) ("IFMI"), a financial services firm specializing in credit-related fixed income investments, today announced that it has appointed Lester Brafman as Chief Executive Officer, effective immediately. Mr. Brafman, who has served as President of IFMI since June 2013, succeeds Daniel G. Cohen. Mr. Cohen will transition from Chief Executive Officer and Chief Investment Officer of IFMI to President and Chief Executive of IFMI's European operations, where he will continue to focus on growing the Company's European capital markets and asset management operations. Until the closing of IFMI's announced transaction with Mead Park Capital Partners LLC, and Cohen Bros. Financial, LLC, Mr. Cohen will continue to serve as Chairman of IFMI.

Mr. Cohen said, "Lester has been a terrific addition to IFMI's management team, and in his short time with the firm, he has already proven himself to be a great leader with an inspiring vision for IFMI. As market conditions continue to improve, I am confident that IFMI will benefit from Lester's deep capital markets experience and relentless determination to drive returns and increase shareholder value."

Mr. Brafman said, "I look forward to taking on this new role and to continuing to identify ways to enhance performance and implement best practices across our various platforms. After about three months with IFMI, it has been a pleasure to work with so many talented professionals as we execute on our strategies and work to make IFMI an employer of choice within the industry."

As previously disclosed, the Company expects to close its announced transaction with Mead Park Capital Partners LLC and Cohen Bros. Financial, LLC immediately following IFMI's 2013 Annual Meeting of Stockholders, which is scheduled to take place on September 24, 2013. At that time, Jack DiMaio, Chief Executive Officer and founder of Mead Park, will be named Chairman, and Mr. Cohen will be named Vice Chairman of the Board of IFMI.

About Lester Brafman

During an 11-year tenure at Goldman Sachs, Mr. Brafman served as Chief Operating Officer of Credit and Mortgage Trading, and as Head of High Yield and Distressed Trading. Prior to joining Goldman Sachs in 2001, Mr. Brafman, 51, spent over six years at Credit Suisse First Boston, holding numerous roles of increasing responsibility, most recently as Head of High Yield Trading, and previously Head of Emerging Market and Sovereign Trading. He also spent several years at Wasserstein Perella & Co. and Lehman Brothers, respectively. Mr. Brafman received a B.A. at Columbia University and an M.B.A. from the Amos Tuck School of Business Administration, Dartmouth College.

About IFMI

IFMI is a financial services company specializing in credit-related fixed income investments. IFMI was founded in 1999 as an investment firm focused on small-cap banking institutions, but has grown to provide an expanding range of asset management, capital markets, and investment banking solutions to institutional investors and corporations. IFMI's primary operating segments are Capital Markets and Asset Management. The Capital Markets segment consists of credit-related fixed income sales, trading, and financing as well as new issue placements in corporate and securitized products and advisory services, operating primarily through IFMI's subsidiaries, C&Co/PrinceRidge Holdings LP and JVB Financial Holdings, LLC in the United States, and Cohen & Company Financial Limited in Europe. The Asset Management segment manages assets through collateralized debt obligations, permanent capital vehicles, and managed accounts. As of June 30, 2013, IFMI managed approximately $6.2 billion in credit-related fixed income assets in a variety of asset classes including U.S. trust preferred securities, European hybrid capital securities, Asian commercial real estate debt, and mortgage- and asset-backed securities. For more information, please visit

Forward-looking Statements

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CONTACT: Investors: Institutional Financial Markets, Inc. Joseph W. Pooler, Jr., 215-701-8952 Executive Vice President and Chief Financial Officer Media: Joele Frank, Wilkinson Brimmer Katcher James Golden, 212-355-4449 jgolden@joelefrank.comSource:Institutional Financial Markets