Ann: Major US Investment Bank Initiates Coverage , page-19

re: Ann: Major US Investment Bank Initiates C... And who is Madison Williams:
A leading financial service firm for over 20 years. While in many respects Madison Williams and Company is a new firm, we are building off the over 20 year legacy of Sanders Morris Harris Group ("SMHG"). The rich history of SMHG reflects the focus and entrepreneurial spirit that continues to characterize Madison Williams. What started in 1987 as a small equity brokerage business has grown into a diversified financial services company. Today, Madison Williams, which consists of the primary capital markets businesses of SMHG, is a leading provider of investment banking, research and sales and trading services focused on the needs of growing companies in the Energy, Health Care, Environmental, and Infrastructure-related industries. With the spin-off from SMHG, we believe that Madison Williams embodies the now-rare Wall Street culture of a creative, hands-on, client-focused and relationship-driven firm.

SMHG and the management of its principal capital markets businesses announced the spin-off of those businesses into a new entity; Madison Williams and Company. The transaction was completed on November 30, 2009. Madison Williams consists of SMHG's existing investment banking franchise, as well as its primary research and capital markets businesses. The spin-off to Madison Williams creates a well-capitalized company with the foundation to add new products to serve existing clients, professionals to existing sectors, and new sectors and business lines.

http://www.madisonwilliams.com/index.php?option=com_content&view=article&id=61&Itemid=67

And who is SMHG:
"Sanders Morris Harris Group and its affiliates have 67 offices in 20 states to serve the wealth management needs of mass affluent and high net worth...."

http://www.smhgroup.com/about-smhg/offices-2/