D.A. Davidson & Co. Completes Acquisition of Kirkpatrick Pettis; Brokerage Gains Diversity, Depth in Bond Offerings, Trading Capabilities.GREAT FALLS Great Falls, city (1990 pop. 55,097), seat of Cascade co., N central Mont., second largest city in the state, at the confluence of the Missouri and Sun rivers and near the falls that give the city its name; inc. 1888. , Mont. -- D.A. Davidson & Co., the largest full-service investment firm headquartered in the Northwest, today announced that it has formally completed its acquisition of the assets of the Kirkpatrick Pettis family of companies, a fixed income broker-dealer and investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and based in Denver and Omaha. The transaction was finalized Friday, Dec. 31. The acquisition allows D.A. Davidson & Co. to provide clients with a broader array of fixed income products and services for both individual and institutional clients. It creates a combined fixed income business with approximately 130 employees and estimated revenues of $38 million. The fixed income group is just one business component of Davidson Companies, the Montana-based financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. holding company that operates D.A. Davidson & Co. "With the Davidson Companies acquisition of the Kirkpatrick Pettis companies, we are bringing together two great companies with strong traditions of client service and community support. As we enter this new chapter in the history of our companies, we are focused, more strongly than ever, on continuing to provide excellent service and an expanding menu of financial solutions to all of our clients," said Bill Johnstone, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Davidson Companies. The assets of Kirkpatrick, Pettis, Smith, Polian Inc. and Kirkpatrick Pettis Investment Management, Inc. and the stock of Kirkpatrick Pettis Capital Management, Inc. were included in the acquisition. All were previously subsidiaries of Mutual of Omaha Mutual of Omaha, best known for sponsoring the popular television show Mutual of Omaha's Wild Kingdom, is a Fortune 500 insurance and financial services company headquartered in Omaha, Nebraska. . The company sold the Kirkpatrick Pettis companies as part of a strategy to focus on its core insurance business. The widely recognized Kirkpatrick Pettis name will continue following the transaction as a division of D.A. Davidson & Co.'s Fixed Income Capital Markets Group. Kirkpatrick Pettis Investment Management will operate as a part of Davidson Investment Advisors, Davidson Companies' money management firm. Kirkpatrick Pettis Capital Management, Inc. will operate as a subsidiary of Davidson Companies. L.C. "Jack" Petersen, previously President and CEO of Kirkpatrick, Pettis, Smith, Polian Inc., has been named Vice Chairman of D.A. Davidson & Co. as part of the acquisition. In addition, Sam Doyle Sam Doyle (1906-1985) was a Gullah folk artist born on Saint Helena Island, South Carolina. He painted on scraps of wood and metal, documenting both St. Helena firsts and prominent members of the island community. , previously Executive Vice President, Fixed Income Capital Markets/Public Finance for Kirkpatrick Pettis, is jointly overseeing the new Fixed Income Group and has joined the D.A. Davidson & Co. Board of Directors. He will co-manage the Fixed Income Group with Kreg Jones, Senior Vice President, Managing Director of Fixed Income Capital Markets for D.A. Davidson & Co. D.A. Davidson & Co.'s Fixed Income Capital Markets Group provides public finance banking and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , fixed income sales and trading in both taxable and tax-exempt sectors. In addition they provide fixed income investment products and advisory services to public and private sector clients and non-profit institutions. With the addition of 86 Kirkpatrick Pettis employees, Davidson Companies has an estimated 825 full-time employees. The acquisition also greatly expands the traditional operating markets of Davidson Companies, moving the company from its traditional seven-state region to a broader regional presence. D.A. Davidson & Co. will continue to operate from its established fixed income offices in Great Falls, Montana Great Falls is a city located in Cascade County, Montana, United States. As of the 2000 census, the city had a total population of 56,690. It is the county seat of Cascade CountyGR6 (the company's headquarters), Seattle, Portland, Spokane, and Bozeman, Montana Bozeman is a city in southwestern Montana, USA. It is the county seat of Gallatin County. With a 2000 population of 27,509, Bozeman is the fifth largest city in the state. The city is named after John M. Bozeman, founder of the Bozeman Trail. , and is retaining the existing Kirkpatrick Pettis offices in Omaha, Nebraska “Omaha” redirects here. For other uses, see Omaha (disambiguation). Omaha is the largest city in the State of Nebraska, United States. It is the county seat of Douglas County.GR6 As of the 2000 census, the city had a population of 390,007. ; Denver; Pittsburgh; Chicago; Kansas City Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). ; Orlando; Lincoln, Nebraska The City of Lincoln is the capital and the second most populous city of the U.S. state of Nebraska. Lincoln is also the county seat of Lancaster County and the home of the University of Nebraska. ; and Norman, Oklahoma. In addition, the firm operates brokerage offices in Colorado, Idaho, Montana, Oregon, Utah, Washington and Wyoming. D.A. Davidson & Co. originally announced its intent to purchase the Kirkpatrick Pettis companies in November. About D.A. Davidson & Co. D.A. Davidson & Co. is an independently owned, full-service investment firm with offices across the Northwest and Rocky Mountain regions. Founded in 1935, D.A. Davidson & Co. provides brokerage, investment banking, research, asset management, and trust and insurance services to individual, institutional and corporate clients. D.A. Davidson & Co. is owned by financial services holding company Davidson Companies. Also part of Davidson Companies are Davidson Trust Co., a wealth management and trust operation; Davidson Investment Advisors, a professional money management firm; and Davidson Travel, a full-service travel agency. About the Kirkpatrick Pettis companies The Kirkpatrick Pettis family of companies include Kirkpatrick, Pettis, Smith, Polian Inc.; Kirkpatrick Pettis Capital Management, Inc.; and Kirkpatrick Pettis Investment Management, Inc. The companies previously were subsidiaries of Mutual of Omaha, a Fortune 500 insurance and financial services company with over $16.4 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . |
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