About Us
Trust, Tenacity, Loyalty & Growth
We Are The New EF Hutton
In the past, EF Hutton was known for the things they said, the information they passed on, and the wise advice they gave. We are proud of that past. Today, we are forging a new future – to empower our clients to go forward, guide them to see further, and to help them build stronger – so that together, we can create prosperity from the 21st century’s most ambitious visions.
We talk, yes, and when we do, so much more happens than just listening. We are the new EF Hutton. Together, we can find solutions, overcome barriers, build teams, and make amazing things happen.
A Dedicated Leadership Team
Our Executive team focuses on helping our clients and our team alike - they strive to help our clients grow through a diverse suite of financing solutions, and they support and develop our team members and ignite their careers.
Leadership
Executive
INVESTMENT Banking AND CAPITAL MARKETS
Community & Stewardship
As a dedicated member of the local community EF Hutton contributes more than $1,000,000 annually to organizations and charitable events with a focus on:
Keep A Child Alive
KCA is committed to empowering children and young people with the necessary resources, confidence and opportunities to reach their full potential and live healthier, happier lives.
St. Jude Childrens Research Hospital
St. Jude is leading the way the world understands, treats and defeats childhood cancer and other life-threatening diseases.
Project Rousseau
Our mission is to empower youth in communities with the greatest need to reach their full potential, as well as pursue and excel in higher education.
Heroes Among Us
Heroes Among Us is committed to help veterans in need by supporting our heroes with every day necessities and partnering with other nonprofits in our community to provide additional resources, support, and hope to veterans by offering assistance for their everyday needs.
In addition to financial contributions, our executive leadership team serve as board members for a number of organizations.
Our Doors Are Always Open
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New York, NY
590 Madison Avenue
39th Floor
New York, NY 10022
Joseph T. Rallo
Chief Executive Officer
Joseph T. Rallo has been the Chief Executive Officer of EF Hutton since he co-founded the firm in May of 2020.
Prior to co-founding EF Hutton, Joseph held various leadership positions in the Investment Banking and Securities industry. His 16 years of expertise spans both public and private transactions including IPOs, SPACs, Follow-on Offerings, Registered Directs, PIPEs, Privates, Fixed Income, M&A and Fairness Opinions. Most recently, Joseph was Co-Head of Investment Banking / Managing Director at Aegis Capital. Prior to that, he was a Vice President in the Financial Institutions & Real Estate Investment Banking Group at JMP Securities before becoming a Director in the Investment Banking Group at Maxim Group. Throughout his career, Joseph has closed more than 500 transactions for over $60 billion in gross proceeds.
Joseph proudly serves on the executive board of directors for The Rousseau Foundation, a nonprofit organization dedicated to empowering youth in communities with the greatest need to reach their full potential and pursue higher education. Joseph also serves on the advisory board for Keep A Child Alive, a nonprofit organization that provides healthcare, housing, and other support services to HIV/AIDS-affected communities in Africa and India. Additionally, Joseph serves on the board for Lifeline Humanitarian Organization, which was founded by Princess Katherine to reduce and relieve the suffering of physically and mentally disabled children, orphans, the elderly as well as to improve medical facilities in Serbia. Furthermore, Joseph serves on the board of Lang Lang International Music Foundation, which was founded to give all children access to a music education, regardless of their background. He also proactively addresses the needs of children and veterans through his corporate partnerships with St. Jude Children’s Research Hospital and Heroes Among Us.
Joseph holds a bachelor’s degree in business administration from Mendoza College of Business at the University of Notre Dame.
David W. Boral
President
David W. Boral has been the President of EF Hutton since he co-founded the firm in May of 2020.
Prior to co-founding EF Hutton, David held several leadership positions in the Investment Banking and Capital Markets industry. His 16 years of expertise spans both public and private transactions including IPOs, Secondaries / Follow-on Offerings, SPACs, PIPEs, Reverse Mergers, M&A, Bankruptcy / Restructurings, Cross Listings, and other private and public offerings in the US and abroad. Most recently, David was Co-Head of Investment Banking / Managing Director at Aegis Capital Corp, and prior to that, he was a Director in the Investment Banking Division at Maxim Group.
In addition to his work at EF Hutton, David is dedicated to improving the world around him, specifically the lives of children and veterans. He currently serves on the advisory board for Keep A Child Alive, a nonprofit organization that provides healthcare, housing, and other support services to HIV/AIDS-affected communities in Africa and India. Additionally, David serves on the board for Lifeline Humanitarian Organization, which was founded by Princess Katherine to reduce and relieve the suffering of physically and mentally disabled children, orphans, the elderly as well as to improve medical facilities in Serbia. He also partners with St. Jude Children’s Research Hospital, Heroes Among Us, and Project Rousseau through corporate sponsorships.
David holds a bachelor’s degree in business administration from the Lubin School of Business at Pace University.
Ryan J. Whalen
General Counsel
Ryan J. Whalen has been the General Counsel of EF Hutton since January of 2023, previously serving as Deputy General Counsel – Head of Litigation at EF Hutton since he joined the firm in November of 2021.
Prior to joining EF Hutton, Ryan spent over two decades as a litigator representing clients faced with complex business disputes on a national scale. His experience includes handling securities litigation, financial disputes, corporate governance / director and officer litigation, breaches of fiduciary duty, fraud, professional malpractice, employment law, and whistle-blower claims. Ryan also has experience in the financial services industry representing investment banks, hedge funds, public companies, and investors. Most recently, Ryan was a Partner at Gusrae Kaplan Nusbaum PLLC. Law, and prior to that he was a Partner at Brown & Whalen, P.C.
Ryan holds his Juris Doctor degree from Fordham University School of Law and his bachelor’s degree from the University of Rhode Island.
Sharad Agrawal
Chief Technology Officer
Sharad Agrawal has been the Chief Technology Officer of EF Hutton since he joined the firm in May of 2023.
Prior to joining EF Hutton, Sharad worked in Private Equity in a technology leadership capacity to improve infrastructure, cybersecurity, and technology operations while working closely with the business. Sharad was also the Chief Technology Officer at Redwood Capital Management and prior to that was the Global Head of Information Technology at Eagle Investment Solutions where he was responsible for all Firmwide Technology efforts globally. His duties included helping develop custom applications and strategy while leading compliance, data, digital, engineering, and cloud initiatives.
Sharad will be pursuing an Executive Education-Chief Technology Officer program at University of Pennsylvania beginning Fall 2023.
Jared S. Merlin
Chief Compliance Officer
Jared S. Merlin has been the Chief Compliance Officer of EF Hutton since he joined the firm in November of 2022.
Prior to joining EF Hutton, Jared spent nine years as a Managing Director at Credit Agricole Corporate and Investment Bank serving as the Chief Compliance Officer and Head of Capital Markets Compliance. Jared has over two decades of Compliance experience providing regulatory advice and oversight to Investment Banks and Broker Dealers. Prior to Jared’s tenure at Credit Agricole, Jared held various positions in the Compliance Departments of Knight Capital Americas LLC and Brown Brothers Harriman & Co.
Jared holds a bachelor’s degree from Syracuse University and an MBA from New York University Stern School of Business.
Stephanie (Mengjie) Hu
Head of Asia
Stephanie (Mengjie) Hu has been the Head of Asia of EF Hutton since May of 2023, previously serving as Vice President, Asia Investment banking at EF Hutton since she joined the firm in November of 2021.
Stephanie has over 9 years of investment banking and financial services experience. She has completed over 100 transactions across a wide universe of industries, representing over $3.5 billion in aggregate value, and she has participated in multiple product offerings including IPOs, Follow-ons / Secondaries, PIPEs, Private Placement, Uplistings (Re-IPO), Reverse Mergers, Registered Directs, CMPOs, ATMs, SPACs and M&As. Her focus is primarily on serving the financial needs of Asian emerging growth and middle market companies in a variety of industries.
Stephanie holds a Master’s degree in Finance from University of Rochester, and she is bilingual in English and Mandarin.
Duncan B. Swanston
Head of Structured Products
Duncan B. Swanston has been Head of Structured Products of EF Hutton since he joined the firm in April of 2022.
Duncan has over 15 years of experience helping public and private corporations and borrowers reach their long- and short-term objectives by securing long term flexible capital. He has closed several hundred transactions with more than $15 billion in structured financing alone by tailoring transactions to meet the specific needs of each of his clients allowing for the lowest effective cost of capital while maintaining the highest degree of flexibility. His investment banking experience spans across several sectors including investment grade and sub investment grade fixed income, debt and equity private placements, both rated and non-rated securitizations, capital markets, and real estate equity and debt for various asset types. Prior to joining EF Hutton, Duncan was at CGA Capital, LLC, where he served as a Managing Director. Prior to that, he was at RBS Greenwich Capital/RBS Securities, the US broker-dealer affiliate of The Royal Bank of Scotland PLC.
Duncan holds a bachelor’s degree from the University of Pennsylvania.
Gaurav Verma
Head of SPACs
Gaurav Verma has been the Head of SPACs of EF Hutton since July of 2023, previously serving as Managing Director, Investment banking at EF Hutton since he joined the firm in January of 2021.
Gaurav has been covering the Technology, Media, and Telecom sector for over 10 years and has executed over $100 billion in transactions encompassing sell-side and buy-side M&A, IPOs, equity offerings, SPACs, converts, high yield and investment grade financings. Gaurav has advised C-Suite executive teams on mergers and acquisition assignments, business development opportunities, growth strategies and capital allocation policies. Prior to joining EF Hutton, Gaurav was a Director at Nomura where he spearheaded the TMT coverage efforts and executed several financial and strategic transactions. Prior to his tenure at Nomura, Gaurav was a Senior Vice President at Bank of America Merrill Lynch within their TMT investment banking group.
Gaurav received his MBA in Finance and Entrepreneurship from NYU Stern School of Business and BS in Computer Science and Economics from Rutgers University.