Raymond James Financial has completed its acquisition of Howe Barnes Hoefer & Arnett, Inc.
The acquisition, which was announced Dec. 29, extends Raymond James’ capital markets reach within the financial institutions segment, specifically community and regional banks and thrifts, including equity research, sales, trading and investment banking resources and services.
“The Howe Barnes team is a great fit for Raymond James and fills an important role in our expanding Capital Markets business,” said Jeff Trocin, executive vice president and head of the firm’s Equity Capital Markets unit. “We firmly believe that our current and future clients in the community and regional bank and thrift sectors will benefit greatly from our collective experience and expertise as well as the broad capabilities Raymond James offers.”
In addition to its equity capital market activities, Raymond James will take over private wealth management for more than 5,000 clients with more than $1.7 billion in assets under management.
Dan Coughlin, the former chairman and CEO of Howe Barnes, joins Raymond James as a managing director of investment banking and will co-head the Raymond James Financial Institutions practice with Managing Director Patrick DeLacey.
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