Laidlaw & Company also known as Laidlaw & Company Ltd is an investment banking firm that is incorporated in the United Kingdom. The firm does business in the United States, primarily in the New York City metropolitan area. Laidlaw has wealth management services that includes portfolio management and financial planning.
It also offers traditional investment banking services such as initial public offerings of stock. The firm also has an alternative wealth management division. It is believed that Laidlaw has hundreds of millions of dollars of assets under management.
Laidlaw & Company is led by James P. Ahern who is the managing partner at Laidlaw. He is also the head of capital markets at the company. Mr. Ahern has a history of complaints while working in the financial sector. He has settled all cases where he was accused of breaking contracts, not fulfilling financial duties as an investment banker, fraud, planning to commit fraud, unauthorized trading on behalf of a client and churning his customers’ accounts.
It is also important to highlight that James P. Ahern has no college degree. He never completed any accredited college work in finance, business, accounting or economics. The fact that a financial company is led by someone with no undergraduate degree speaks volumes about Laidlaw & Company Ltd.
Laidlaw & Company has dozens of employees who have a history of committing fraud and being found to have committed violations on the state and federal level. One example is a Laidlaw broker named Leonard V. Gallick, Jr. In 2014, a past client of his sued him for over $8,000,000 for churning his account in violation of SEC rules. Another former client alleged that Leonard V. Gallick, Jr. made unsatisfactory trades while he was his broker. Laidlaw & Company settled for $350,000 in this case. Leonard V. Gallick, Jr. is just one of the many Laidlaw employees that also includes Mathew Eithner and James Ahern that have a history of fraud and securities violations.