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Trump Securities - Purely Coincidental

December 1, 2016

 

Trump Securities, founded in 1998 as Equinox and renamed in 2004, is among a couple of dozen broker-dealers that are run with the help of Spindel, an accountant who’s been involved in the brokerage...

 

Anthony Scaramucci, the hedge-fund rainmaker in Donald Trump’s inner circle of advisers, gets some of the money he steers to hedge funds from an outfit called Trump Securities. No, not that Trump.

 

Trump Securities LLC operates from an unsigned office inside a lower Manhattan high-rise, past an entrance flanked by signs reading “No Hand Trucks in Lobby.” The president-elect has no connection with the firm - he’s not an investor or a partner, according to Trump Securities principal Howard Spindel.

 

Trump Securities, founded in 1998 as Equinox and renamed in 2004, is among a couple of dozen broker-dealers that are run with the help of Spindel, an accountant who’s been involved in the brokerage business since the 1960s. The firm’s name, Spindel says, is a nod to a former business partner’s love of pinochle and an homage to Spindel’s relatives who lived many years ago in Brooklyn’s Trump Village, an apartment complex built by Donald’s father, Fred Trump.

 

The lack of an official link to Donald Trump makes Trump Securities a rarity among Trump-branded vodkas, steaks and hotels. Although Donald Trump has filed dozens of lawsuits over the years to get the Trump name removed from some properties (including 2 Atlantic City casinos) and added to others (including an airline), Spindel says he hasn’t heard any complaints about Trump Securities from the businessman’s lawyers.

 

‘Purely Coincidental’.    The Trump transition team referred questions to Michael Cohen, executive vice president of the Trump Organization, who laughed upon learning how his boss’s family had inspired the broker-dealer’s name. He confirmed that there was no affiliation with the president-elect. “The fact that there may be a connection is purely coincidental and not unlikely,” he said, “given that the company’s been doing securities business for 20 years.”

 

The unofficial link between the securities firm and the president-elect is Scaramucci, whom Spindel referred to as “the Mooch!” when asked about him at the entrance to his office.

 

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