Market Overview

First Republic to Acquire Luminous Capital

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First Republic Bank (NYSE: FRC) and
Luminous Capital Holdings, LLC, one of the nation's leading independent
wealth advisors, today announced that Luminous Capital will become part
of First Republic Investment Management, Inc., a wholly-owned subsidiary
of the Bank.

Based in Los Angeles, Luminous Capital provides high net worth
individuals, family offices, and family foundations with strategic
investment advice and asset allocation, including alternative
investments. As of September 30, 2012, Luminous Capital had wealth
management assets of $5.5 billion.

The six partners of the firm will sign long-term employment contracts as
part of the transaction, which is expected to close by

See full press release

Posted-In: News Guidance Contracts Management M&A

 

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