FAHNESTOCK VINER HOLDINGS SUBSIDIARY ACQUIRES REICH & CO.
TORONTO, Dec. 13 /PRNewswire/ -- Fahnestock Viner Holdings Inc. (NASDAQ: FAHNF; Toronto) today announced that through its wholly owned subsidiary, Fahnestock & Co. Inc., it has acquired Reich & Co., Inc., a brokerage firm based in New York City. Reich & Co., Inc., a member of the New York Stock Exchange, was founded in 1933 and at the present time operates seven branch offices in the U.S. Northeast and Florida and employs 200 investment consultants. The purchase was made for cash. Fahnestock will continue to operate Reich & Co. under the Reich name. The Fahnestock group also operates under the names B.C. Christopher, W.H. Newbold's Son & Co., Pace Securities, Hudson Capital Advisors, Fahnestock Asset Management, as well as Fahnestock & Co. Fahnestock stated that, "the Reich purchase continues our strategy of acquiring well-positioned regional firms. We are pleased with the quality of the professional staff and are confident that they will fit well within the Fahnestock group." -0- 12/13/93 /CONTACT: A.G. Lowenthal of Fahnestock & Co., 212-668-8000; or E.K. Roberts of Fahnestock Viner Holdings, 416-364-3397/ (FAHNF FHV.)
CO: Fahnestock Viner Holdings Inc.; Fahnestock & Co.; Reich & Co. ST: Ontario, New York IN: FIN SU: TNM
JG -- NY054 -- 3123 12/13/93 11:12 EST
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|Date:||Dec 13, 1993|
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