FTN Financial Acquires Main Street Capital Advisors
MEMPHIS, Tenn., Feb. 1, 2012 (GLOBE NEWSWIRE) -- FTN Financial, a division of First Tennessee Bank, N.A., today announced that it has acquired Main Street Capital Advisors, LLC. Nevada-based Main Street is a registered investment advisor that provides investment management and investment consulting services primarily to state and local municipalities.
"This expansion into public funds asset management broadens our institutional portfolio advisory services beyond our traditional depository focus," said Michael E. Kisber, president of FTN Financial. "FTN Financial already has a significant presence in the public funds sector through our fixed income sales activities. The addition of Main Street enables us to respond to the growing demand for portfolio advisory services among this customer segment."
Main Street will operate under the name FTN Financial Main Street Advisors, a subsidiary of First Tennessee Bank, N.A. Rick Phillips, founder and president of Main Street, will continue to lead this business.
"We are excited about joining FTN Financial and the growth opportunities and expanded resources this will provide for our business," said Phillips, who also is one of the founders of the Government Investment Officers Association and will continue his leadership in this organization.
Financial terms of the transaction are undisclosed.
About FTN Financial
FTN Financial is an industry leader in fixed income sales, trading and strategies for institutional clients in the U.S. and abroad. FTN Financial also provides investment services and balance sheet management solutions. With an average daily trading volume of over $5 billion, FTN Financial transacts business with approximately 40% of all domestic depository institutions with investment portfolios over $100MM.
FTN Financial's sales and trading team focuses on high-grade liquid markets, including Treasuries, Corporates, Mortgages, and Municipal bonds, and is also a leading underwriter of Agency debt. FTN Financial has offices in the United States in Atlanta, Boston, Charlotte, Chicago, Cleveland, Dallas, Kansas City, Las Vegas,
Los Angeles, Memphis, Mobile, New York, Philadelphia, San Francisco, Scottsdale, Westbury, and internationally in Hong Kong and Tokyo.
Information about FTN Financial and its entire offering of products and services can be found at www.ftnfinancial.com.
CONTACT: Michael E. Kisber, President
Sally Pace, SVP Marketing and Communications
Source: First Horizon National Corporation
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