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Investment Brokerages M&A image Investment Brokerages M&A » By The Online Investor Staff, updated Thu., Apr. 25, 10:42 PM Recent mergers and acquisitions in the Investment Brokerages M&A category.

Slide #33. RCS Capital Corporation Cetera Financial Group

Acquirer: RCS Capital Corporation (RCAP)
Acquiree: Cetera Financial Group
Details: RCS Capital Corporation ("RCAP") (NYSE: RCAP) announced today that it has entered into an agreement to acquire Cetera Financial Group ("Cetera"), a leading independent broker-dealer headquartered in El Segundo, CA, from Lightyear Capital for $1.15 billion in cash, subject to certain customary adjustments. Following this transaction, Cetera and its subsidiaries will become part of RCAP's retail advice platform, complementing the recently announced acquisitions of Summit Brokerage Services and Investors Capital Holdings. Valerie Brown, President and Chief Executive Officer of Cetera, and her management team, will continue to operate Cetera's respective brands as part of the RCAP family of companies.

RCS Capital is a holding company. Co. operates through its subsidiaries in six segments: Independent Retail Advice, which provides independent retail advice, financial products and investment solutions; Wholesale Distribution, which provides financial products and investment solutions through its wholesale distribution; Investment Banking, Capital Markets and Transaction Management Services, which provides direct investment programs; Investment Management, which provides investment advisory and distribution to the Hatteras family; Investment Research, which provides due diligence on investment products; as well as Corporate and Other, which includes its crowdfunding investment platform.

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Company Name:  RCS Capital Corp
Website:  www.rcscapital.com
Sector:  Investment Brokerages
 

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April 25, 2024    10:42 PM Eastern
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