Regions Bank to Acquire Leading Institutional Investment Firm Highland Associates
07 June 2019 - 11:00PM
Business Wire
Regions Bank today announced it has reached an agreement to
acquire Highland Associates, Inc., a leading institutional
investment firm that provides objective, research-driven investment
counsel to not-for-profit healthcare entities and mission-based
organizations. Highland Associates is based in Birmingham, Alabama,
and advises clients throughout the United States.
“Highland Associates has an attractive growth profile and a
strong reputation for excellence serving the not-for-profit
healthcare sector,” said John Turner, President and CEO of Regions
Financial. “The addition of Highland Associates complements our
existing asset management and healthcare banking practice areas and
will enable us to provide additional capabilities to meet client
needs while also diversifying our business.”
Founded in 1987, Highland Associates is led by credentialed
advisors with a deep understanding of the industry. With $26
billion in client assets, the firm serves clients from offices in
Birmingham, Alabama, and St. Louis. Highland Associates President
and CEO Trey Echols will continue to lead the business and the firm
will maintain its name, leadership, employees, and investment
philosophy, operating as a subsidiary of Regions Bank and reporting
through the Regions Wealth Management Group. With $98 billion in
client assets, Regions Wealth Management combines expertise in
Private Wealth, Institutional Services, Asset Management, and
Investments.
“Highland Associates has experienced significant growth over its
history, and more recently as one of the remaining specialists in
not-for-profit healthcare. Further growth with mission-based
organizations, such as foundations and endowments, over the last
decade positions us to capture substantial opportunity as our
client-first model gains momentum,” said Echols. “We find ourselves
with a unique opportunity to accelerate our plans with the capital
and complementary business model of Regions. Our founders, Charlie
Perry and Bill Terry, established an exceptional company and have
an opportunity to see their creation become a significant legacy
brand. Both Highland Associates and Regions share common
cultures of integrity, putting people first, and building deep and
beneficial relationships with clients. Combining the best of our
two firms will allow us to continue delivering tailored investment
counsel for many years to come.”
The transaction close is subject to satisfaction of customary
closing conditions and financial terms are not disclosed. Maynard
Cooper & Gale served as legal advisor to Regions and Bradley
served as legal advisor to Highland Associates.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $129 billion in
assets, is a member of the S&P 500 Index and is one of the
nation’s largest full-service providers of consumer and commercial
banking, wealth management, and mortgage products and services.
Regions serves customers across the South, Midwest, and Texas, and
through its subsidiary, Regions Bank, operates approximately 1,500
banking offices and 2,000 ATMs. Additional information about
Regions and its full line of products and services can be found at
www.regions.com.
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