Is Alex. Brown - now under Raymond James - still an Investment Bank?
Is Alex Brown still a player in the investment banking space? IPOs/M&A, etc, or now that they have been acquired by Raymond James, are they mostly in financial planning/wealth management?
I'm pretty confident their IB practice just became RJs Boston tech group. Might include the consumer group too. I think their pwm stuff might still fly under the Alex. Brown flag, but their IB has been absorbed. Apologies if any of this is incorrect.
Do you have any idea on where I can find this information to confirm? I have a meeting with an executive at Alex. Brown and while its through family/completely casual, I don't want to go in there like a complete idiot thinking Alex. Brown still does IB services. On their website they say they service institutional investors and have capital markets services, but it still seems like their main focus is wealth planning. Thank you
Turns out I was wrong. I got Alex Brown confused with Lane Berry & Co, an investment bank they bought several years back. Disregard what I said above. Sorry for fuckin that one up.
Institutional Investors means they handle "Institutional" money, so pension funds, insurance companies, hedge funds, endowments, large trusts, family offices. Basically, they have the services to handle even the biggest clients. As far as Capital Markets services, we're talking Sales and Trading functions to be able to support institutional money.
Alex Brown hasn't been involved in Investment Banking function since they were acquired by Deutsche Bank in 1999. I could argue that it was really 1997 with the Bankers Trust merger, but that's neither here nor there. Deutsche still used the name as part of their securities division (hence DB Alex Brown) and when RJ bought Deutsche's wealth management arm, they got the name as well.
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