In addition to his role as co-head of the downstream energy and convenience retail investment banking group, Spencer P. Cavalier, CFA has been named president of Matrix Capital Markets Group, an independent investment bank. Cavalier joined the firm in 1998 and has been a driving force in the growth of the firm’s downstream energy and convenience retail investment banking group. He has served as a member of the board of directors for more than 10 years and has played a key role in the successful development of the firm.
“Spencer has made a tremendous impact at Matrix on many levels and is uniquely qualified to lead the company as it continues to grow and prosper,” Thomas E. Kelso, outgoing president of Matrix, said.
“It is an incredible honor for me to be named President and to continue working with our extremely talented and passionate team to build upon Matrix’s legacy of providing superior financial advisory and execution services to our clients,” Cavalier said.
James B. Munsey joined Matrix as chief operating officer. He will be responsible for the day-to-day operational policies and procedures of the firm including strategic planning and implementation, human resources management, information technology and legal oversight, as well as office services administration.
His career prior to Matrix included leadership in a diverse mix of companies and industries. Most recently, as COO of Connected Solutions Group (CSG), Munsey led the scaling of the company’s operations, HR, and finance with an employee count that grew from 30 to more than 250 over a three-year period. CSG placed 8th on the Inc. 5000 List in 2019. He also served as regional vice president and business development officer at a subsidiary of First National Bank of Pennsylvania structuring and funding M&A transactions and as managing director at Light-VanAusdall Business Advisors.
”I am beyond excited at the opportunity to join such a well-respected and dynamic firm,” Munsey said. “The professionals at Matrix have set the highest bar in attaining outstanding results for their clients, as well as providing an excellent culture within the firm. I look forward to supporting and building upon these efforts for many years to come.”
“We are extremely excited and fortunate that James has joined the Matrix team,” Cavalier said. “He is a natural leader and possesses the depth of experience and characteristics needed to be the COO of a growing, independent investment banking firm.”
Kelso will be stepping down as president and leaving Matrix effective Dec. 31. Kelso joined Matrix in 1997 and founded the downstream energy and convenience retail investment banking group. He has served as a member of the board of directors for nearly 20 years and became president in 2017. In that capacity, he led the firm’s efforts to expand into healthcare and capital advisory investment banking.
Over his 25-year career at Matrix, he has shared his expertise and guidance with clients, served as a mentor to many team members, and made substantial contributions to the growth and development of the firm. Kelso will continue to be active in mentoring entrepreneurs by helping them grow their businesses, as well as continue his involvement in community and philanthropic organizations.
“Matrix is a great firm, and it has been my passion for many years,” Kelso said. “I will miss my incredible colleagues immensely, but it is time for me to step away and pursue the next phase of my career.”
“Tom’s departure from Matrix is bittersweet for all of us,” Cavalier said. “While we are excited for his next chapter, we will miss his leadership, guidance and passion. As many know, Tom is a very remarkable and talented person who deserves the well-earned respect for helping to build Matrix into the firm it is today.”
