Cain Brothers Announces Leadership Succession: Robert Fraiman to Become CEO
New York – October 28, 2009
Cain Brothers & Company, one of the country’s leading investment banking firms serving the health care industry, announced that, effective January 1, 2010, Robert J. Fraiman, Jr., age 51, will become President and Chief Executive Officer. Current CEO and founder James E. Cain will continue on the firm’s Executive Committee and remain actively engaged with clients and in business outreach. Founder Dan Cain will remain Chairman of the Board of Directors and will also remain actively engaged with clients.
Jim Cain said, “My brother Dan and I founded Cain Brothers 27 years ago and, with the help of many talented professionals and the trust of our clients over nearly three decades, we have had the good fortune to participate in the expansion of the U.S. health care industry. We are very excited about this transition to a new generation of leadership of the firm. Since joining the firm in 2004, Rob Fraiman has made numerous important contributions to the growth and success of Cain Brothers. He has done an excellent job in growing our corporate finance business and integrating our ability to serve both the not-for-profit and investor-owned sectors of the health care industry. Rob was also instrumental in the formation of our actively engaged Executive Committee and our capitalization initiatives over the last five years, which has led to increased ownership positions of the firm’s most senior bankers and solidified their individual and collective commitments to the long-term success and growth of the firm.” Dan Cain said, “Rob’s skills, experience, and client-first perspective make him the ideal person to lead the firm into the future. I have no doubt that Cain Brothers will continue to prosper as it serves its clients and helps them meet the many challenges they face.”
“Jim and Dan Cain have established a wonderful culture and working environment at Cain Brothers,” said Fraiman. “My job will to be to maintain this atmosphere while also focusing on growth initiatives to comprehensively serve the needs of our clients and, hopefully, contribute to their successes. I am fortunate to work with an excellent senior leadership team on the firm’s Executive Committee and one of the most dedicated and talented groups of investment bankers in our industry. I am honored to follow in Dan and Jim’s footsteps and grateful for and excited by the Board’s confidence in me.”
Mr. Fraiman joined Cain Brothers in 2004 as Head of the Corporate Finance Group. He will continue to lead the Corporate Finance Group in his new position. Prior to joining Cain Brothers, Mr. Fraiman was head of health care investment banking at BMO Capital Markets and co-founder of the health care investment banking group at Bear Stearns, where he worked for 16 years. He has a B.A. from Colgate University and an MBA from Columbia Business School. He serves on the Board of Directors of Grand Street Settlement.
***
Cain Brothers is an investment banking firm that focuses exclusively on the health care industry. The firm’s clients include providers, payors, medical device and equipment companies, health care information technology companies, and financial sponsors. The firm has one of the largest teams of experienced bankers and capital markets professionals on Wall Street dedicated to the health care industry. Operating out of offices in New York, Chicago, Houston, San Francisco, Atlanta, Indianapolis, Los Angeles, Sarasota, and St. Louis, Cain Brothers creates custom-tailored, market-based capital raising, M&A, real estate, and strategic and financial advisory solutions for its clients.
***
Contact:
Jim Vaughan
212-981-6929
jvaughan@cainbrothers.com
