- 1Brean Capital signed a definitive agreement to acquire three Janney businesses.
- 2About 50 professionals join, taking Brean to more than 225.
- 3Janney's teams have run 300-plus deals totaling about $20B.
Brean Capital, LLC has agreed to buy three businesses from Janney Montgomery Scott LLC under a definitive agreement: Institutional Equity Sales, Equity Research, and Depository & Insurance Investment Banking. The transaction brings Brean a team of about 50 investment bankers, research analysts and institutional sales professionals.
What Brean is getting
The incoming group covers depository and insurance investment banking, backed by equity research and institutional sales staff who serve financial institution clients nationwide. Their capabilities span M&A advisory, capital raising, equity research and institutional distribution, and they expand Brean's presence in Atlanta, Philadelphia, Cleveland, Chicago and San Francisco.
In recent years the Janney teams have handled more than 300 capital markets and M&A deals worth about $20 billion in total, placing them among the busiest advisors on community bank M&A and capital raises. They also publish equity research on more than 140 publicly traded depository and insurance companies.
Combined firm
After the deal, Brean will have over 225 people in investment banking, research and institutional sales, serving corporate, institutional and municipal clients nationwide.
Executive comments
Brean CEO and principal owner Robert Fine said the team's sector leadership and client relationships align with the firm's plan to expand its financial institutions platform and strengthen its advisory capabilities in depository and insurance markets. Matt Veneri, Head of Investment Banking at Janney, said Brean has the focus and resources to help the team grow its platform. Brean Executive Managing Director Peter McNierney said the firms' cultures fit well.
Terms of the transaction were not disclosed in the announcement.
About Brean
Founded in 1973, Brean Capital is an independent investment bank offering fixed income strategy, corporate finance and advisory services. Its fixed income business spans sales, trading and banking across mortgage- and asset-backed securities, Treasuries, agencies, structured products, corporate bonds and municipal securities.
Source reporting: deBanked.
