ETF News

Meredith Whitney's firm buys broker-dealer

NEW YORK, Aug 13 (Reuters) - Meredith Whitney Advisory Group LLC, the prominent banking analyst’s eponymous investment research firm, said on Thursday it has completed the acquisition of broker-dealer Seegal Benson Leucadia Securities LLC and will rename it Meredith Whitney Securities LLC.

Whitney, who shot to fame by correctly predicting much of the banking sector’s carnage in recent years, left Oppenheimer & Co and launched her own firm in February.

The firm said it will initially provide financial advisory and research services, but is seeking permission from the Financial Industry Regulatory Authority to expand its services to include sales and trading, syndicate participation and other broker-dealer activities.

Seegal Benson Leucadia was part of a merchant bank launched in 2007 by Frederic Seegal, a veteran investment banker who advised big media companies while at Lehman Brothers Holdings, Salomon Brothers and Wasserstein Perella. (Reporting by Phil Wahba; Editing by Muralikumar Anantharaman)