Raymond James buys investment bank Lane Berry

By Galen Moore

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Broker-dealer Raymond James Financial Inc. (NYSE: RJF) has acquired Lane Berry and Co. LLC, a middle-market investment banking and advisory firm based in Boston. Terms of the deal were not disclosed in a press release announcing the deal.

Former Donaldson, Lufkin & Jenrette managing directors Frederick C. Lane and Robert M. Berry founded Lane Berry in 2002. The firm now employs 21 investment banking professionals and has offices in Boston and Denver.

St. Peterburg, Fla.-based Raymond James said Lane has joined the firm as vice chairman of investment banking, working with Jim McDaniel and Dav Mosby, co-heads of Raymond James’ Investment Banking group.

Berry will be managing director and co-head of Raymond James’ M&A practice, focusing on middle-market M&A advisory services. Another Lane Berry senior professional, James E. Bunn, will be co-head of the firm’s Business Services practice with managing director Joe Estes.

Jeff Trocin, executive vice president of Raymond James and head of the firm’s Equity Capital Markets unit, said in a written statement the acquisition “underscores” the firm’s expansion of its investment banking platform.

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