Wall Street Investment Firm Acquires Mississippi Brokerage
HATTIESBURG, Miss. (AP) _ Smith Barney Inc. announced Friday that it has acquired Revels Securities Corp. Terms weren’t disclosed.
The investment firm has a staff of 12 in its offices in Hattiesburg and Meridian, Miss.
Greg Frascogna, branch manager of Smith Barney’s Mississippi offices, said Revels Securities will join the Wall Street investment firm’s Jackson, Miss., operation and will use the Smith Barney name on its offices.
″The acquisition of Revels provided a rare opportunity to grow Smith Barney’s franchise as Mississippi by adding brokers and offices of comparable quality in a single transaction,″ Frascogna said.
Revels Securities was originally chartered as Southeastern Securities Corp. in 1957 in Hattiesburg. It became Revels Securities in 1984. Its Meridian office opened in 1988.
Frascogna said Smith Barney will now employ 45 people in Mississippi.
Smith Barney was founded in 1873 and now has more than 480 offices nationwide.