PaineWebber Group has signed a merger agreement with Nashville, Tenn.-based
J.C. Bradford & Co., a privately-held brokerage firm in the Southeast. The all cash transaction, valued at $620 million, is expected to close in the third quarter of this year.
The transaction will add more than 900 financial advisors and $46 billion in client assets to PaineWebber's base of 7,608 financial advisors and $452 billion in client assets. J.C. Bradford has offices in 14 states, primarily in the Southeastern United States.
"This combination, which is fully complementary to our private client and capital markets businesses, will accelerate our asset gathering strategy through the addition of 900 talented financial advisors, and enhance our presence in the Southeast, a high growth region of the country, particularly among the affluent," said
Donald Marron, chairman and chief executive officer of PaineWebber.
Senior Bradford executives
James Bradford, Jr., chairman,
Jeff Powell, chief executive officer,
Jim Graves, chief operating officer, and
Luke Simons, vice chairman, will assume roles with PaineWebber and assist in the transition. 
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