Richmond-based investment bank/brokerage Anderson Strudwick is in merger negotiations with Wunderlich Securities, a Tennessee investment bank/brokerage.
Representatives from Wunderlich will be in Richmond today to present the deal to the company, according to a source familiar with the deal. It’s likely that employees will vote later today.“We’re in negotiations with a firm that shares our philosophy,” said Anderson Strudwick Spokesman Brian Regrut.
“We value our independence. [We’re not going to be] told by someone else what they have to sell and how to sell it. Our number one interest is looking out for our clients.”
Anderson Strudwick is owned by its 120 employees. Around 80 of them work in downtown Richmond.
Wunderlich Securities, which is based in Nashville, has more than 250 employees. According to the firm’s website, the company has four lines of business: asset management, private client services, institutional fixed income and investment banking.
Calls to Wunderlich have not yet been returned. BizSense will update the story as information becomes available.