Santander Buys American Broker Amherst Pierpont Mark1199 For 500 Million. The intention is to incorporate Amherst Pierpont into the group’s global wholesale banking.
Santander has reached an agreement to buy the independent fixed income broker Amherst Pierpont Securities through the acquisition of its parent company, Pierpont Capital Holdings, for approximately 600 million dollars (about 500 million euros at the current exchange rate).
The intention is to incorporate Amherst Pierpont into the global wholesale banking group of the Santander Corporate & Investment Banking (Santander CIB) group, as it expands its capabilities in structured products, fixed income distribution and securitizations, the bank reported this Thursday.
Amherst Pierpont is a leading independent fixed income and structured products broker in the United States, with approximately 230 employees serving more than 1,300 active institutional clients from its headquarters in New York and its offices in Chicago, San Francisco, Austin, other US cities and Hong Kong.
The New York Federal Reserve designated the company as the primary dealer or ‘primary dealer’ of US Treasuries in 2019 and it is currently one of three non-banks to hold that designation. Santander Buys American Broker Amherst Pierpont Mark1199 For 500 Million
According to Santander, its incorporation will “significantly” improve its infrastructure and the capabilities of its global wholesale banking division as a creator of the US fixed income market, while providing a platform for the self-compensation of fixed income securities for the group. around the world.
He also underlined that it will increase the institutional client base and improve its capacities for structured products and advice for asset originators in the real estate and specialized financing markets, in addition to providing greater support to offer corporate debt and fixed income operations in the US and emerging markets.