About

Who We Are

Falcon Square Capital was established in March of 2013 and is headquartered in Raleigh, NC. Falcon Square Capital is 100% employee owned and the four original partners still operate the firm today. In 2013, Falcon Square Capital received status as a WBENC member and has maintained that status every year since. Falcon Square Capital began with 90 institutional clients. Last year, Falcon Square Capital traded with ~350 institutional clients.

Falcon Square Capital works with asset management firms, registered investment advisors, corporations, state treasuries and municipalities, depository institutions and trust departments, hedge funds, endowments, and other fiduciaries. Falcon Square Capital’s client-focused Capital Markets approach delivers unique insight to institutional clients investing in fixed income. Falcon Square Capital trades the full spectrum of fixed income securities, including corporates, municipals, treasuries, agencies, RMBS, CMBS, commercial paper, certificates of deposit, and structured products.

Falcon Square Capital invests in both technology and human capital to ensure that all trades are monitored and guided from execution to settlement. Falcon Square Capital’s fixed income services are tailored to each institutional client’s needs, with senior sales and trading teams providing individualized trade ideas, market commentary, and timely execution on trades. With a highly knowledgeable and experienced operations group ensuring proper settlement for every trade, Falcon Square Capital provides exemplary service, front to back, for all clients’ trades. Falcon Square Capital has a proven track record of offering solutions that best fit our clients’ fixed income needs.

Mission

Falcon Square Capital is a woman-owned small business devoted to delivering exceptional service and expertise in the institutional fixed income market. With a commitment to integrity, expertise, and personalized service, we help clients navigate complex markets with confidence and precision. Our goal is to empower institutional clients with strategic fixed income opportunities that align with their financial objectives while fostering long-term partnerships built on trust and performance.

Falcon Square Capital’s mission is to educate women on capital markets, grow female representation within the industry, and advance women in their financial services careers. Falcon Square Capital seeks to achieve its objectives by hiring female candidates in sales, trading, and operations roles in the growth of its own capital markets business.

We are committed to driving innovation, advocating for diversity in finance, and creating value for our clients through deep market insight, disciplined execution, and a client-first approach. With a passion for financial stewardship and a dedication to ethical business practices, we strive to make a meaningful impact in the institutional investment community.

Falcon Square Team

Melissa Pendergrass

CEO, CCOUNC Kenan-Flagler Business School
[email protected]

Braxton Wall

Partner
[email protected]

Keaton Wright

Partner
[email protected]

Scott Cunningham

Partner
Head of Underwriting
[email protected]

Brooke Weber

Associate
Fixed Income Trading
[email protected]

Chanel Vicini

Chanel Vicini

Executive Director
Fixed Income Sales and Trading
[email protected]

Danielle Stachura

Associate
Sales, Trading, and Underwriting
[email protected]

Devon Cunningham

Director
Sales, Trading, and Underwriting
[email protected]

Mary Helen Smith, CIPM

Director
Fixed Income Portfolio Strategist
[email protected]

Paul Gilbert, MBA

Senior Vice President
Fixed Income Sales and Trading
[email protected]

Paul Hauf

Senior Vice President
Fixed Income Sales and Trading
[email protected]

Richard Vest

Senior Vice President
Fixed Income Sales and Trading
[email protected]

Carla Humera

Analyst
Underwriting
[email protected]

Diego Muruzumbay

Director
Operations and Settlements
[email protected]

Kimberly Morales

Associate
Operations and Settlements
[email protected]

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Sruthi Sodum

Analyst
Operations and Settlements
[email protected]

History

March 2013
Falcon Square Capital Received FINRA and SEC approval. Headquartered in Raleigh, NC with an initial team of seven team members
May 2013
Falcon Square Capital is certified as a member of the Women’s Business Enterprise National Council (WBENC)
December 2013
During Falcon Square Capital’s first year in business, the sales and trading team covered 90 customers and traded $1 billion in secondary volume
July 2014
Falcon Square Capital opened a secondary office location on the West Coast in San Francisco, California
March 2016
Falcon Square Capital expands its Raleigh Headquarters, moving locations, to the present address of 3701 Lake Boone Trail Ste 100 Raleigh, NC 27607
June 2017
Falcon Square Capital formalized its summer internship program with Carolina Women in Business
October 2018
Falcon Square launches Portfolio Solutions for RIAs
December 2020
Falcon Square Capital underwrote its first new issue mandate: $1bln BARC 1.007 2024
August 2021
The New York Fed added Falcon Square Capital as a counterparty to the Secondary Market Corporate Credit Facility (SMCCF)
July 2023
Falcon Square Capital underwrote its first domestic bank new issue mandate: $4.5bln JPM 5.35 2024
October 2023
Falcon Square Capital is added as an authorized DN direct dealer and underwriter for Federal Home Loan Bank (FHLB)
October 2023
Falcon Square Capital underwrote its first reverse inquiry FHLB callable bond, as an approved dealer
November 2023
Falcon Square Capital grows its client base, covering 350 clients with a national footprint across capital markets. Falcon Square added: State Treasuries, Municipalities, Endowments, Insurance and Corporate Treasury clients to its clientele that previously consisted of mostly: real money asset managers, RIAs, and Trusts
December 2023
Falcon Square Capital traded over $18 billion in secondary fixed income volume

Falcon Square Capital is mandated as an underwriter on 11 New Issue Credit deals; bringing $27.75bln to market in 2023

January 2024
Falcon Square Capital launches its competitive municipal underwriting business
May 2024
Falcon Square Capital became an authorized FHLB bidding group dealer with direct access to the DN window and full callable/bullet/FRN underwriting capabilities
December 2024
During the first year of business, Falcon Square Capital is co-manager on 185 competitive municipal underwritings

Giving Back

Each year, Falcon Square Capital conducts its internship program for female freshman and sophomore college students. Falcon Square Capital’s internship program gives candidates an opportunity to explore a career in finance and capital markets. Interns work on the sales & trading desks and alongside the founding partners for the summer. The assigned projects are designed to engage students with the entire sales & trading team floor. Given Falcon Square Capital’s company size, interns have a real opportunity to participate and gain experience. All Falcon Square Capital interns are exposed to sales, trading, and operations in capital markets.
The experience freshmen and sophomore candidates gain from Falcon Square Capital’s internship program bolsters their resumes, increases their interview confidence, and provides a springboard towards a second capital markets internship. Most investment banks offer internships during sophomore or junior year, and attaining a junior year internship is a pivotal step towards securing a full-time position. The feedback Falcon Square Capital has received from former interns is that they entered that interview process confident and prepared. Falcon Square Capital is proud to say that 100% of their interns have secured a full-time position upon completion of their Falcon Square Capital internship and college graduation. Falcon Square Capital has many former interns who are now full-time employees at the big 10 investment banks.

Falcon Square Capital believes that diversifying the capital markets field is vital for growth. Melissa Pendergrass, CEO, is active in women organizations that promote women in finance, such as “100 Women in Finance.” Falcon Square Capital currently has 46% female representation.