updated 3/23/2011 1:47:55 PM ET 2011-03-23T17:47:55

SAUSALITO, Calif., March 23, 2011 (GLOBE NEWSWIRE) -- Caldwell Securities Incorporated announced today the formation of its Community Bank Services Group under the leadership of Christopher R. Raffo, who recently joined the firm as Managing Director.

Raffo entered the investment securities industry with Chicago Corporation in 1985. Within three years he joined Chicago's banking department, beginning his long career as a bank equity sales specialist. He has held senior sales positions in the Chicago offices of Howe Barnes Investments, Podesta & Co., Hoefer & Arnett, and most recently FIG Partners.

Raffo will provide his experienced services to both community banks and the investment fraternity that follows this specialized field. "My single focus will be to deliver value and service to an extensive network of both investors and bankers. We believe that the community bank sector has numerous great banks that are under-followed and under-served by the sell-side investment firms," Raffo said.

Caldwell Securities is a full service broker-dealer and investment adviser. Founded in 1982 it has consistently applied a research-driven, bottom-up approach to value investing. "Community banks have been a core element in our search for value since the inception of Caldwell," president Joe Helmer, CFA said. "We are fortunate and excited to have Chris leading this expanded initiative for us."

"Caldwell's 2011 strategic business decision to develop a presence in institutional sales and capital raising efforts for small banks closely follows several mergers and acquisitions within the broker-dealer community of bank specialists," added founder and chairman John Helmer, CFA. "The field is not as crowded," he pointed out, "and I am confident that Chris' work here will gain us recognition by both banks and their shareholders."

"My family's move to California will also bring me closer to my other passion, off-road racing," said Raffo. He leads an experienced team as head of Raffo Racing, competing in Baja, Mexico and the southwestern deserts of the U.S. He is well known in the racing world for his pioneering work developing driver ventilation systems.

CONTACT: Chris Raffo, Caldwell Securities Incorporated
         30 Liberty Ship Way #3200, Sausalito CA 94965-3327
         (847) 736-5365
         craffo@cald.com

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