Macquarie procures financial specialist
(6 October 2009 – USA) Macquarie Group will acquire Fox-Pitt Kelton Cochran Caronia Waller LLC (FPK), a specialist investment bank focused on financial institutions, by the end of the fourth quarter.
The bank hopes the acquisition will enhance their integrated offering to financial institutions around the world and plans to focus on developing the banks expertise in North America and Europe to complement Macquarie's Financial Institutions Group (FIG) position in the Asia-Pacific region.
Roy Laidlaw, global head of Macquarie Securities Group, said, FPK and Macquarie's equity offerings in financial institutions are complementary and together the banks plan to deliver a wider and stronger mix of products to their respective clients.
John Waller, president of FPK, said, the transaction allows FPK to grow with its clients by bringing together Macquarie's global strength and capital resources with their specialist expertise.
As part of the acquisition a number of executive changes will be made, FPK's George Cochran and Len Caronia will become Chairmen of Macquarie Capital's global FIG advisory business.
FPK president John Waller will co-head Macquarie's global FIG advisory business alongside Macquarie executive director, Andrew Low. Charles Myers, FPK's global head of FIG Equities, will assume an equivalent role within Macquarie Securities as an executive director.
Fox-Pitt Kelton Cochran Caronia Waller is a global specialist investment bank focused exclusively on the financial services sector.
FPK employs 267 people, with approximately 50, 40 and ten percent of staff located in the U.S., the UK and Asia respectively. Two thirds of executive staff are employed in the firm's securities business, with the remainder in advisory, corporate broking and capital markets.
Roy Laidlaw, global head of Macquarie Securities Group, said, FPK and Macquarie's equity offerings in financial institutions are complementary and together the banks plan to deliver a wider and stronger mix of products to their respective clients.
John Waller, president of FPK, said, the transaction allows FPK to grow with its clients by bringing together Macquarie's global strength and capital resources with their specialist expertise.
As part of the acquisition a number of executive changes will be made, FPK's George Cochran and Len Caronia will become Chairmen of Macquarie Capital's global FIG advisory business.
FPK president John Waller will co-head Macquarie's global FIG advisory business alongside Macquarie executive director, Andrew Low. Charles Myers, FPK's global head of FIG Equities, will assume an equivalent role within Macquarie Securities as an executive director.
Fox-Pitt Kelton Cochran Caronia Waller is a global specialist investment bank focused exclusively on the financial services sector.
FPK employs 267 people, with approximately 50, 40 and ten percent of staff located in the U.S., the UK and Asia respectively. Two thirds of executive staff are employed in the firm's securities business, with the remainder in advisory, corporate broking and capital markets.
Subscribe