Wunderlich Investment Company acquires SSB Securities from Sandnes
Sparebank
(Thomson Reuters ONE) - The Memphis-based company, parent of investment firm WunderlichSecurities, Inc., establishes a presence in Norway through theacquisition of SSB Securities ASA's shares from the savings bankSandnes Sparebank.Foto link: Alfred Ydstebø (left), Gary Wunderlich (middle) and PhilipZanone (right), Memphis, USA. Wunderlich is buying control of asecurities firm in Norway.(Memphis/Stavanger/Oslo August 13th 2009) Wunderlich Securities is aMemphis-based full service investment firm. Established in 1996, thecompany has grown to become a recognized firm catering to bothindividual and institutional clients with financial advisory, tradingand brokerage, equity research and investment banking services.Wunderlich Securities has more than 320 associates in 13 offices inthe U.S. and holds $3.5 billion U.S. of assets for its 30,000 privateclients. The company has a broad client base ranging from largeinstitutional managers to affluent private investors.Alfred Ydstebø, whose Coil Investment Group has been the majorityshareholder in Wunderlich's parent company since late 2007 and whocurrently chairs the Wunderlich board, knows SSB Securities well fromhis base in Stavanger, Norway:"Our clients in Norway will primarily consist of institutionalinvestors and companies where the investment banking team can provideadvisory, M&A capabilities and capital raisings. The firm'sprofessionals will seek to leverage the research capabilities ofWunderlich Securities in the U.S., and will also try to make itsclients aware of the numerous investment opportunities broughtforward in the U.S. market.""The acquisition of SSB Securities by Wunderlich represents a strongfoundation for the firm in Norway. Wunderlich's objective is tofoster an independent platform in Norway, with offices in Stavangerand Oslo, and to ensure that it utilizes as much as possible theskills and expertise found across the Atlantic. In both the U.S. andthe Norwegian markets, there are many opportunities, especiallywithin the energy sector."CEO and Wunderlich founder Gary Wunderlich explains:"Accessing the Norwegian market is a good idea for a firm like ours.We believe that SSB, working where possible with WunderlichSecurities' U.S. teams, can offer its Norwegian clients a wide rangeof services with a unique approach compared to the already existingfirms. Considering the local knowledge of our chairman, AlfredYdstebø, Norway was also a natural first step outside of Wunderlich'scurrent borders."Jone Idsøe, CEO of SSB Securities, says a geographic presence in bothOslo and Stavanger will be important for the company: "The news aboutbecoming a part of the Wunderlich organization was met with greatenthusiasm by the employees in SSB Securities! This will clearly be apositive move and expand our capabilities for taking on differentprojects and transactions in the future. In addition this move mayopen up for new and alternative capital sources for our clients.""Sandnes Sparebank is very pleased with the future plans now beinglaid out for SSB Securities" says Vidar Torsøe, deputy CEO of SandnesSparebank. "We are satisfied with having established a regionalsecurities firm which has made its mark within the targeted segmentsin a fast pace. However, Sandnes Sparebank wishes to focus on itscore business and decided to accept the bid when a credible andserious offer was presented. We believe that Wunderlich will addfurther competence and experience, and we look forward to anaffiliation with SSB Securities and its employees."Gary Wunderlich continues by explaining that the first phase of thefirm's expansion will come through hiring of personnel andestablishing an office in Oslo. "The firm will seek to attractexperienced professionals to the organization by offering a strongacademic- and research driven environment with the possibility ofownership. There is already an ongoing process where the firm istalking with exciting candidates to bring forward the expansion inthe Norwegian market. I got to meet several of these candidatespersonally during my last visit to Oslo in late July."Philip Zanone, who is President of Wunderlich Securities:"Today, Wunderlich's Equity Capital Markets division covers U.S.companies within selected industry sectors, which includes a broadapproach to the energy sector. Together with our American analysts,the Norway-based analysts will start coverage of relevant Norwegiancompanies. Wunderlich and SSB Securities are also consideringestablishing focused trading desks to cater to the opportunitybelieved to exists in introducing Nordic companies to U.S. basedinstitutional clients, and vice versa."For further information:Per BjørkumPress contactCell: +47 922 55 777e-mail: bjorkum(at)trolltind.noAlfred YdstebøChairman, Wunderlich Investment CompanyCell: +47 908 32 828e-mail: alfred(at)coilinvest.comJone IdsøeCEO, SSB Securities ASACell: +47 909 22 762e-mail: jone.idsoe(at)ssb-securities.noVidar TorsøeDeputy CEO, Sandnes SparebankCell: +47 970 80 656e-mail: vidar.torsoe(at)sandnes-sparebank.noGary K. Wunderlich,CEO, Wunderlich Securities Inc.Phone: +1 901 251 1346 e-mail: gwunderlich(at)wundernet.comPhoto: Photo of Alfred Ydstebø (left), Gary K. Wunderlich (middle) CEO of Wunderlich Securities and Philip Zanone (right) President of Wunderlich Securities, via: bjorkum(at)trolltind.noAbout Wunderlich Investment Company, Inc. and Wunderlich Securities,Inc.Wunderlich Securities, which was established in Memphis, Tennessee in1996 is full service investment firm with more than 320 associates in13 offices (10 states) in the U.S. It is a wholly-owned subsidiary ofWunderlich Investment Company, Inc. Through Coil Investment Group,Alfred Ydstebø has been the main shareholder of Wunderlich InvestmentCompany, Inc. since 2007. Wunderlich Securities' 10 senior analystscover more than 100 U.S. companies. The companies covered are withinthe sectors of diversified industrials, environmental services,energy and new energy, financial services and media. WunderlichSecurities maintains more than $3.5 billion U.S. in client assetsthrough more than 30,000 client relationships.Website: www.wunderlichsecurities.comAbout SSB Securities ASASSB Securities ASA is a wholly owned subsidiary of Sandnes Sparebank.The firm's focus is to provide corporate finance services andalternative investment products within the energy-, real estate- andprivate equity sectors. The company was founded in the fall of 2007and has 7 employees. Following Wunderlich's acquisition of SSBSecurities from Sandnes Sparebank the company intends to establishoffices in Oslo, Norway.Website: www.ssb-securities.no ###http://hugin.info/142204/R/1334415/316772.jpgThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 13.08.2009 - 09:29 Uhr
Sprache: Deutsch
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