PROVIDENCE – Citizens Financial Group Inc. has closed the $149 million acquisition of a San Francisco-based capital markets firm, according to a recent news release.
The agreement with JMP Group LLC was announced in September and is intended to strengthen the bank’s corporate financial advisory capabilities, the release stated.
JMP specializes in investment banking services focused primarily on health care, technology, financial services and real estate. The firm provides strategic advisory, equity research, and sales and trading services. Under the terms of the deal, it will operate as a wholly owned subsidiary of Citizens.
Citizens paid $7.50 per diluted share to purchase the company.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
