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Home-grown equity research company RedChip is moving from downtown Portland to Spokane, Wash., minus founders Marc Robins and David Archibald.
Parent company ICM Asset Management, which bought RedChip Companies LLC last year, is consolidating all RedChip operations at its Spokane headquarters.
ICM said it is bolstering RedChip by adding analysts and reformatting The Red Chip Review, the company's flagship publication.
"We're really looking to expand [RedChip], not take anything away," said Cassie Devaney, ICM's corporate communications director. With the consolidation, RedChip has already hired four experienced analysts, including a new director of research.
The Red Chip Review, which will contain those analysts' research, will change in January from a twice-monthly publication to a monthly magazine, with a more professional look, Devaney said.
"Our intent was to keep the company in Portland-we feel it's very unfortunate that we had to leave-but some of the initiatives we are implementing to bring the...