National Holdings Corporation Adds Strategic New Hires to its Broker Dealer Subsidiary

NEW YORK, Aug. 19, 2019 (GLOBE NEWSWIRE) -- National Holdings Corporation (NASDAQ: NHLD) (“National” or the “Company”), a full-service independent brokerage, investment banking, insurance, accounting and asset management firm, today announced the addition of several strategic new hires to its broker-dealer subsidiary, National Securities Corporation (member FINRA/SIPC):

• Bill Washington joins as Managing Director, Chief Strategy Officer
• Mark Melrose joins as Managing Director, Regional Sales Manager
• Jim Mulcahy joins as Senior Vice President, Branch Manager

This group of hires comes during a period of expansion and growth for the firm as it accelerates its recruitment and acquisition activities.

Bill Washington and Mark Melrose come to National from Capitol Securities Management, a privately owned brokerage and investment advisory firm headquartered in Richmond, Virginia. These new Managing Directors will support National’s financial advisors in their practice management and ongoing growth and development efforts.

National’s Managing Director and Head of Recruiting, Michael Gill, says “We are thrilled to welcome Bill and Mark to the team. Their knowledge and experience within the wealth management industry will be invaluable to our advisors as we continue to expand with premiere investment solutions.”

Jim Mulcahy, a veteran branch complex manager from Morgan Stanley, joins National to head up the firm’s new corporate-owned branch in Paramus, NJ. His efforts will be focused on recruitment, management of the branch and further expansion efforts.

John DeSena, National’s Chief Operating Officer, commented, “The new Paramus branch, as with all our branches, will provide all the amenities of a wirehouse firm, however our representatives have the freedom and flexibility to offer both comprehensive wealth management solutions and innovative proprietary investments that they cannot offer elsewhere. With Jim at the helm, we are confident this location will thrive.”

About Bill Washington

Bill Washington joins National from Capitol Securities Management, where he successfully built out a branch system network as a Managing Director and Director of Business Development. He was later appointed to the Board of Directors. Bill started his career on Wall Street as a retail broker for Moore Schley, then became a Vice President at Merrill Lynch. From there, he has enjoyed a storied career with many diverse roles in the financial services industry.

About Mark Melrose

Mark Melrose joins National from Capitol Securities Management, where he spent the past 12 years as Regional Manager and most recently as Director of Business Development. Prior to that, he held roles at several wirehouses and in the trust department of Key Bank. Mark began his financial career as an advisor with Merrill Lynch. He holds a BA in Economics from Chapman University and served for over a decade in the United States Marine Corps.

About Jim Mulcahy

With over 25 years of experience in the brokerage industry, Jim Mulcahy comes to National to continue his track record of success managing and growing branch business. Jim started his career with Dean Witter in 1994 where he led his region in new accounts. He moved to Merrill Lynch in 1998 where he helped manage over $200M in customer assets. Jim moved into management at Morgan Stanley in 2007, where he specialized in Financial Advisor Associate training and retention of Financial Advisors. Since then, he has raised revenue in each of the branches he oversaw. Jim holds his Series 7, 9, 10, 21, 63 and 66 licenses.

About National Holdings Corporation

National Holdings Corporation (NHLD) is a full-service investment banking and asset management firm that, through its affiliates, provides a range of services, including independent retail brokerage and advisory services, investment banking, institutional sales and trading, equity research, financial planning, market making, tax preparation, insurance, to corporations, institutions, high net-worth and retail investors. With over 1000 advisors, registered reps, traders, sales associates and corporate staff, National Holdings operates through various subsidiaries including National Securities Corporation, National Asset Management, Inc., National Insurance Corporation, National Tax and Financial Services Inc. (Gilman Ciocia, Inc.) and GC Capital Corporation. Formed as a holding company in 1996, National Holdings’ largest subsidiary National Securities Corporation has been in business since 1947. National Holdings is headquartered in New York and Florida. For more information, visit www.yournational.com.

FORWARD-LOOKING STATEMENTS

This press release may contain certain forward-looking statements. Any such statements, other than statements of historical fact, are based on management’s current expectations, estimates, projections, beliefs and assumptions about the Company, its current and prospective portfolio investments, and its industry. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the Company’s control, difficult to predict and could cause actual results to differ materially from those expected or forecasted in such forward-looking statements. Actual developments and results are likely to vary materially from these estimates and projections as a result of a number of factors, including those described from time to time in National’s filings with the Securities and Exchange Commission. Such statements speak only as of the time when made, and National undertakes no obligation to update any such forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

CONTACTS:

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