MutualFundWire.com: PaineWebber To Buy Southeastern Brokerage

MutualFundWire.com

The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication

Friday, April 28, 2000

PaineWebber To Buy Southeastern Brokerage

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.

Related Links

J.C. Bradford & Co.

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.

Printed from: MFWire.com/story.asp?s=25473

Copyright 2000, InvestmentWires, Inc.
All Rights Reserved