The purchase of Soleil Securities is expected to significantly increase the size of Ticonderoga’s research offering and provide better depth within each research vertical.
The enhanced research offering coupled with Ticonderoga’s current equity derivatives, market-making and structured credit expertise offerings, along with the recently-announced move into fixed income, is expected to create a highly-focused solution platform for the institutional client base.
As a result of the acquisition, Ticonderoga will be able to provide clients with better information content at the point of execution.
The firm will utilize the technology to further complement its service, and will also provide various electronic execution products for those clients seeking a low-touch solution.
The combined business will operate from offices in New York, Boston, Minneapolis and San Francisco.
Ticonderoga is owned and managed by Joel Plasco and Shawn McLoughlin, the former Group CEO and North American CEO of London-listed financial services group Collins Stewart.
McLoughlin said the combination of the two businesses is the next phase in the plan to build a diverse research-led sales and trading business across a broad spectrum of asset classes. The merger of the businesses will allow for some significant cost savings from the increased revenues and overhead reductions.
The transaction is expected to close around the end of March 2011 subject to regulatory approval.
