• Mr. Tennies is President of InCap Group, Inc., an investment banking firm. InCap Group provides M&A advice, capital raising services, valuations and fairness and fiduciary opinions to financial services companies, including asset managers, wealth managers, mutual fund sponsors, FinTech companies, securities brokers, hybrid broker-dealers/investment advisors and bank trust departments. Mr. Tennies leads many of the firm’s assignments.

    Earlier in Mr. Tennies’ tenure at InCap Group, he managed a fund administration, fund accounting and transfer agency business owned by InCap Group that specialized in providing services to mutual funds.

    Prior to joining InCap, Mr. Tennies was the Chief Administrative Officer of Legg Mason’s Asset Management operations. During Mr. Tennies’ tenure at Legg Mason, Legg Mason’s assets under management increased by more than six-fold and Legg Mason was transformed from a regional broker-dealer and asset manager to one of the 20 largest asset management firms in the U.S. Mr. Tennies’ responsibilities included oversight of Legg Mason’s Asset Management businesses, M&A activity and product launches.

    Previously, Mr. Tennies was Legg Mason’s Associate General Counsel, responsible for M&A and the firm’s Asset Management businesses. Earlier in his career, Mr. Tennies practiced corporate and securities law at Covington & Burling in Washington, D.C.

    Mr. Tennies has served on the Board of the Forum for Investor Advice and has been a member of Institutional Investor’s International Mutual Fund Institute. Mr. Tennies has also served on the Board of the Historic Charles Street Association. Mr. Tennies is a graduate of Yale Law School (Editor of the Yale Law Journal) and Franklin & Marshall College (Phi Beta Kappa with Departmental Honors in Government and History).

    Mr. Tennies has also taught the Mergers and Acquisitions course at the University of Maryland School of Law.

    Phone: 410.962.1128
    Email: jtennies@incapgroup.com


  • Mr. Malitzky is the Executive Vice President of InCap Group. He works on a wide variety of the firm’s assignments, including M&A assignments, capital raising projects and valuations. Mr. Malitzky has done work for wealth management firms, institutional asset managers, mutual fund sponsors, FinTech companies, hybrid broker-dealers and on-line broker-dealers. Mr. Malitzky also coordinates technology and business development projects for the firm.

    Mr. Malitzky joined InCap in 2009. He is a graduate of Ner Israel College and received his MBA from Loyola University in Maryland.

    Prior to completing his MBA, Mr. Malitzky lived in Israel for several years. A native of New York City, Mr. Malitzky now lives in Baltimore, Maryland with his wife and four children.

    Phone: 410.962.1127
    Email: amalitzky@incapgroup.com