Wedbush Morgan Securities has entered into an agreement to acquire the business assets of Peacock, Hislop, Staley & Given, an Arizona-based investment bank and securities brokerage firm.
Wedbush Morgan Securities believes that the synergy between both the firms will allow them to expand their services to their growing client base in the southwest region of the US.
Tom Hislop, CEO of Peacock, Hislop, Staley & Given, said: We feel that this combination will allow us to continue to deliver excellent service to our clients while offering them the additional security that Wedbush Morgan will provide with over $200 million of equity capital, no borrowings, no off-balance sheet commitments or derivatives and no investment in sub-prime or other mortgage related instruments.