RJF - Raymond James agrees to acquire SumRidge Partners; terms undisclosed

Raymond James Financial (NYSE:RJF) has agreed to acquire Jersey City, New Jersey-based SumRidge Partners; terms of the deal remain undisclosed. Founded in 2010, SumRidge Partners operates as a fixed income trading company, specializing in high yield and investment grade corporate bonds, municipal bonds and institutional preferred securities. It employs around 45 people. SumRidge will operate within Raymond James' Fixed Income Capital Markets division. Its institutional market-making operation will complement Raymond James' core client-facing business with the goal of identifying additional opportunities for the two business units.

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Raymond James agrees to acquire SumRidge Partners; terms undisclosed