BTIG Just Hired a SPAC “Legend”…

Gil Ottensoser to Join BTIG as Head of SPAC Program

A press release today announced that BTIG has hired Gil Ottensoser, to lead their SPAC Banking and Capital Markets effort, signaling a major push into the Special Purpose Acquisition Company field by BTIG.

Gil has a long history with SPACs and is a well-known name within the SPAC banking community.  The firm he founded back in 2002, Legend Merchant Group, was one of the more prolific SPAC underwriters, having lead, co-managed or participated in the selling group of over 80 SPACs during the 2003-2008 era. In fact, Legend could arguably be called one of the original firms that got the SPAC ball rolling.  In 2007, Legend was bought by Deutsche Bank to increase their presence within the then-burgeoning SPAC sector and Gil became Head of SPAC Sales and Distribution, where he assisted in the origination of new SPAC issuances, overseeing $3 billion in SPAC transactions in the short time before the Financial Crisis.

This is a huge signal that BTIG wants entry into the SPAC game. Gil, being one of the “O.G.s”, brings a vast amount of SPAC knowledge and history and I’m excited to see what he brings to the table going forward.

You can be sure to see BTIG’s name a lot more in the SPAC space in the coming months.