NationsBanc Montgomery Securities Expands Clearing Services with Agreement with John G. Kinnard & Co.

Strategic Insights -

NationsBanc Montgomery Securities' Clearing Services group announced an agreement with John G. Kinnard & Co., a full-service investment banking and brokerage firm in Minneapolis, expanding its clearing services. The agreement, signed in 1998, makes John G. Kinnard & Co. NationsBanc Montgomery Clearing Services' largest client to date. Seth Gersch, President & CEO of NationsBanc Montgomery Clearing Services, stated that the decision is a "real vote of confidence" in the unique benefits of their clearing services. William Farley, Chairman, President & CEO of John G. Kinnard & Co., praised the investment banking partnership aspect of the relationship.

Key Takeaways:

  • NationsBanc Montgomery Securities' Clearing Services group reached an agreement with John G. Kinnard & Co. for clearing services.
  • John G. Kinnard & Co. is NationsBanc Montgomery Clearing Services' largest client to date.
  • Seth Gersch, President & CEO of NationsBanc Montgomery Clearing Services, called the decision a "real vote of confidence" in their clearing services.
  • The agreement includes an investment banking partnership between NationsBanc Montgomery Securities and John G. Kinnard & Co.
  • John G. Kinnard & Co. praised the investment banking partnership aspect of the relationship.
  • NationsBanc Montgomery Clearing Services' current clients include H.C. Wainwright & Co., Hampshire Securities, EGS Securities Corp., Cruttenden Roth Inc., and NationsBank N.A.
  • NationsBanc Montgomery Securities LLC has approximately $800 million of regulatory capital.
  • The company provides research, trading, and issuance in the equity and fixed-income markets.

Statistics:

  • 1998: The year NationsBanc Montgomery Securities announced the expansion of its clearing services.
  • 19: Number of offices across the Upper Midwest and Rocky Mountain Regions for John G. Kinnard & Co.
  • 2,200: Number of investment professionals employed by NationsBanc Montgomery Securities.
  • $800 million: The approximate regulatory capital of NationsBanc Montgomery Securities.

Sources:

  • "NationsBanc Montgomery Securities' Clearing Services group announced today that, as part of its continued expansion, it has reached an agreement with John G. Kinnard & Co., a full-service investment banking and brokerage firm in Minneapolis, for clearing services." (Business Wire, February 26, 1998)
  • Contact: NationsBanc Montgomery Securities, Jennifer A. Smith, (415) 913-5968, jasmith@montgomery.com