BMS Capital Advisory, a broker-dealer registered with the Securities & Exchange Commission, will advise on and facilitate insurance linked securities (ILS) offerings and Mergers & Acquisitions.
BMS Capital Advisory chief executive Rom Braga said that the new business would increase the group's operational flexibility. Braga added that BMS Capital Advisory intended "to create, facilitate and execute select corporate finance engagements and effective solutions to a new class of ILS sponsors".
BMS Intermediaries chief executive Andrew Bustillo said that "having achieved this milestone, we are now able to provide risk management and advisory services across a broad spectrum of the capital markets".
Minova, headed by chief executive Dane Douetil, renamed itself in June, following the completion of a $50.7m investment from Capital Z Partners. BMS began to change focus in April 2011 when Pioneer Underwriters was launched as an MGA/underwriter.