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  • Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • Parker/Hunter Incorporated
  • Janney Montgomery Scott LLC (Penn Mutual Life Insurance Company)
  • Securities and Investment Banking
  • February 22, 2005
  • N/A

Seller Details

Parker/Hunter, based in Pittsburgh, is the largest independently-owned full service securities and investment banking firm headquartered in Pennsylvania with 21 offices throughout Pennsylvania, Ohio and West Virginia. Parker/Hunter is a member of the New York Stock Exchange, Inc., the National Association of Securities Dealers, and the Securities Investor Protection Corporation.

Buyer Details

Janney Montgomery Scott LLC is a major regional full-service securities broker/dealer headquartered in Philadelphia, serving a national client base through nearly 900 financial consultants located in 80 branch offices along the United States East Coas. Janney traces its roots to 1832 and holds the second oldest seat on the New York Stock Exchange. The company enjoys a strong capital base of over $300 million and continues to successfully execute growth plans for its private client and institutional activities. Janney is a subsidiary of The Penn Mutual Life Insurance Company, one of the 15 largest mutual insurance companies in the nation, with assets of more than $13 billion.

Transaction Summary

Parker/Hunter is one of the largest remaining independent regional brokerage firms in the Middle-Atlantic states. Janney and Parker/Hunter share common values, visions and long histories dating back to 1832 and 1902, respectively. Both firms focus on the client relationships as fundamental in all they do, offering professional advice, guidance and service to individual investors, corporations, institutions and municipal governments. The acquisition of Parker/Hunter allows Janney to significantly increase both the scale and scope of its presence throughout the region, and the combined resources and dedication of both organizations will allow the organization to serve its clients with ever increasing value.

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