• News
  • SAN DIEGO
  • Finance

B. Riley acquires Caris to add research as other brokers close

B. Riley & Co., the Los Angeles-based investment bank, bought San Diego-based stock-research firm Caris & Co. to increase its sales and trading business amid a slowdown in the brokerage industry.

B. Riley, founded in 1997, is adding nine analysts, 12 salesmen and four traders in San Francisco, New York, Los Angeles, San Diego and Atlanta, Chairman Bryant Riley said Monday. Darren Caris, who was president of Caris & Co., will run research, sales and trading, the company said in a statement.

Small brokerages including ThinkEquity LLC, Rodman & Renshaw LLC and WJB Capital Group Inc. closed this year as institutional investors turn to computerized stock trading and the pace of activity on U.S. markets declines. Avian Securities LLC shut after failing to find a firm willing to take on its employees, founder Avi Cohen said last month.

"We've always expanded when it's difficult," said Riley, who declined to say how much he paid for Caris. "This will add to the research and sales side at a time when there's less and less firms out there servicing the institutional investor."

Caris specializes in providing advice on trading the stocks of technology and consumer companies, Riley said.

Leave Your Comment

Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.

SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.

User Response
0 UserComments

Leave Your Comment

Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.

SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.

Subscribe Today!