Advanced Capital Securities, a Latin American investment bank, has completed the acquisition of Lake Forest Securities, a Chicago-based broker-dealer that specializes in corporate fixed income securities and municipal bonds.
The acquisition follows receipt of final approval from FINRA, the Financial Industry Regulatory Authority on 20 August 2014.
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Forest Securities will now operate under the name of AdCap Securities, led by Gustavo Dominguez.
The acquisition will boost Advanced Capital’s US client base and expand its product offerings, as well as its research capabilities, for its international clients, primarily in Latin America.
Additionally, the purchase of Lake Forest marks as a strategic addition to Advanced Capital’s international platform, which it has been expanding through acquisitions across the Americas.
Daniel Canel, CEO of Advanced Capital Group , said: "The acquisition of Lake Forest, which operates in six States, not only expands our footprint in the US but also deepens our expertise in the U.S. corporate and government bond markets, as well as our overall market intelligence. It’s another key piece in our regional capital markets strategy."
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By GlobalDataGustavo Dominguez, CEO of AdCap Securities, said: "The fact that Advanced Capital is headquartered in the United States, with execution capabilities in its equity and fixed income markets, provides our clients in Latin America a stamp of approval for our regulatory infrastructure and corporate governance."
Advanced Capital, which focuses on emerging companies and institutional and individual investors in Latin America, has brokerage, capital markets and asset management operations in Argentina, Uruguay and Peru. It operates in the capital markets of both Latin America and the US.
