FMR Corp (“FMR”) – We regularly represent FMR in transactional and regulatory matters. In the past few years, we have assisted with several acquisitions of financial services and technology businesses, including the correspondent clearing business of UBS and Fiserv.
AmeriTrade – In June 2005, our Financial Services M&A team represented AmeriTrade, Inc. in its $2.87 billion acquisition of TD Waterhouse. The transaction combined highly complementary franchises to create the largest online retail broker as measured by the average number of retail equity trades per day, with the scale, breadth and financial strength to be a leading player in the increasingly competitive and consolidating investor services industry.
Legg Mason - Also in June 2005, in a transaction valued at approximately $3.7 billion, our client Legg Mason agreed to sell its retail brokerage assets to Citigroup in exchange for most of Citigroup's asset management business.
Jefferies Group – We have represented Jefferies in a series of franchise-building acquisition and investment transactions. We work with bankers and brokers in Jefferies’ businesses, including with regard to on going regulatory matters, follow-on acquisitions and transaction-related matters such as the issuance of fairness opinions in M&A deals.
Janney Montgomery Scott, LLC - In March 2005, Janney Montgomery Scott, a Philadelphia based retail broker-dealer and long time client acquired Parker/Hunter Inc., a Pittsburgh based retail broker-dealer and one of the largest remaining independent regional brokerage firms. The transaction was structured with our guidance whereby Janney acquired all of the stock of Parker/Hunter.
National Discount Brokers – We represented this publicly-traded online brokerage and NASDAQ market-maker in each step of its sale to Deutsche Bank.
Representative Clients
Our investment banking and brokerage clients include many of the nation’s best-known, full-service, regional and online broker-dealers, including the top 10 U.S. securities firms listed by Institutional Investor. Our investment management clients include 7 of the 10 largest money managers listed by Institutional Investor, over 500 mutual funds, venture capital, private equity and hedge funds, banks and trust companies, pension consultants, trade associations, transfer agents and other businesses in the securities industry.