Our Story & Value

From Market Maker

to Middle-Market Leader

Carl Marks established its reputation as the first U.S. market-maker for foreign securities, and CMA has carried that legacy forward by anticipating the evolving needs of the middle market. That instinct, shaped by our Wall Street rigor and firsthand operating experience, sets the tone for how our firm works to protect the long-term interests of business owners today.
1925

First to Market

Mr. Carl Marks founded Carl Marks & Co. and became the first U.S. market-maker for foreign securities. Built on principles of fair dealing and long-term relationships, the firm quickly established itself as an industry leader recognized for integrity and execution.
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1925
1975

Pioneered Private Equity

Among the earliest to capitalize on “bootstrap financings,” an investment approach known as leveraged buyouts, Carl Marks & Co. laid the groundwork for what became the private equity market.
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1975
1983

Entering Real Estate

Carl Marks Realty Services was launched, focusing on distressed real estate assets before the strategy became mainstream.
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1983
1987

Launching Strategic Investments

Carl Marks Strategic Investments was established, giving institutional and individual investors access to Carl Marks & Co.’s value-investing discipline.
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1987
1988

Expanding Broker-Dealer Capabilities

Broker-dealer operations merged with Smith New Court PLC, expanding the firm’s institutional trading platform.
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1988
1992

Private Equity Arm is Built

CM Equity Partners was formed, with a focus on investments in federal services, aerospace, and defense.

&

Consulting Group Formed


Carl Marks Consulting Group was founded to provide hands-on turnaround services to distressed middle-market companies.
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1992
2001

CMA Steps Into Investment Banking

Carl Marks Capital Advisors was created to lead transaction services stemming from turnaround mandates. The merger with Stepping Stone Financial added M&A capabilities.
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2001
2006

Integrated Advisory Services Established

Carl Marks Capital Advisors and Carl Marks Consulting Group combined to form Carl Marks Advisory Group LLC, a vital arm providing integrated, end-to-end financial and operational advisory services.
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2006
2007

Capital Markets Arm Established

Carl Marks Securities LLC was formed to advise clients on private placements of debt and equity.
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2007
2014

Rebranded as Carl Marks Advisors

Carl Marks Advisory Group LLC rebranded as Carl Marks Advisors, adopting the tagline, “Driving Success Through Change and Growth.”
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2014
2025

Renamed to CMA

Carl Marks Advisors adopts its current name.
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2025

Our Team

Our people set us apart with a hard-earned perspective across ownership, operations, and finance. We work shoulder to shoulder with clients through each engagement, applying sound judgment to guide decisions toward the right outcome.

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While the world around us continues to shift, our values remain constant. We lead with accountability, empathy, and a deep respect for the people behind every business. It’s our legacy — this balance, honoring where we have come from while adapting to what’s next, that keeps us relevant, grounded, and proud to be part of every story we help shape.

- Jeanine Krattiger, Managing Director

Our Impact

We’ve earned our reputation by setting a standard others are still measured against. That bar, for honest dialogue and decisive follow-through, still carries weight in the markets we serve.

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