History of NW Financial Group
NW Financial Group traces its roots back to 1984 when one of its founding Principals, Dennis Enright, formed a new generation investment banking firm whose focus was on client service first. Enright & Company quickly grew to become one of the most sophisticated boutique investment banking firms on Wall Street. Its national client base included government entities on the East Coast, energy companies on the West Coast, and real estate developers in the Midwest . When the over-leverage problems of the 1980s hit, the Firm was called upon to work out and restructure over $500,000,000 of fixed income investments by mutual funds, insurance companies, regional and major Wall Street investment banking firms. Additionally, the Firm was ranked the #1 advisor to municipalities in the State of New Jersey .
In 1993, National Westminster Bank USA acquired the business of Enright & Company in order to establish a domestic investment banking capability to supplement its US branch banking system in the Northeast. The professionals of Enright & Company joined NatWest in senior positions and raised the profile and expertise of the bank in servicing its client base. Operating as NatWest Advisory Group, these professionals built a significant business presence in the Northeast and developed new product lines for the Bank including: Low Income Housing Tax Credit investments, bridge loans, and governmental credit facilities. At NatWest, the Group had credit authority of over $300,000,000 per year as well as full responsibility for investment banking, financial advisory and negotiated bond underwriting. In 1996, NatWest sold its US branch system to Fleet Bank whose business plan was more oriented to traditional commercial banking strategies. Thus in 1996, NW Financial was formed.
Founded by key professionals who have worked together as a team for more than a decade, NW Financial has developed an aggressive business plan to continue to serve its historic client base and enter new arenas in the financial service marketplace. For the first time, the Group will offer direct investment in promising businesses that have synergy with the traditional business lines of the NW professionals.
