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Raymond James Financial has reached an agreement to purchase Silver Lane Advisors, a boutique investment bank that specializes in mergers and acquisitions involving financial services firms, including wealth managers.
New York-based Silver Lane Advisors will keep its name and form a new Asset & Wealth Management group within Raymond James Investment Banking's financial services practice. The group will have more than 40 bankers covering banks and thrifts, asset and wealth managers, insurance companies, specialty finance companies and business development companies when the transaction is complete.
Elizabeth Nesvold, managing partner and founder of Silver Lane, will become the head of the asset and wealth management group. Her husband, Peter Nesvold, a managing director and the head of strategy at Silver Lane, will be the chief financial officer of the new group. The boutique bank’s general counsel and head of operations, Jim Collins, will also remain with the group as well as all the other employees.
The boutique will also stay in its new office overlooking Central Park that it moved into last year, where some investment bankers from Raymond James will join them.
Terms of the deal were not disclosed, although Raymond James, a publicly traded company, could file a Form 8-K with the Securities and Exchange Commission detailing the acquisition. The deal is...