Incapital to Buy LaSalle from BofA

Incapital LLC says it has struck a deal with the Bank of America to acquire LaSalle Broker Dealer Services Division; the purchase could be completed as early as March 30. "Corporate issuers, broker-dealers and individual investors will each benefit from the synergies created by combining the operations, technology and client services of Incapital and LaSalle Broker Dealer Services Division, " explains Incapital President & CEO Tom Ricketts " These expanded capabilities will enhance our service to the growing retail interest in fixed income products as investors continue to extend out on the yield curve and to take advantage of attractive yield levels on corporate bonds, U.S. Agency securities and CDs," Ricketts adds.With the acquisition, Incapital says it can serve as lead underwriter for nine of the 10 largest U.S. corporate retail bond issuers, including Bank of America, GE Capital, and HSBC Finance, for instance, while operating a comprehensive global fixed-income distribution platform for retail investors with a network of over 1000 banks and dealers representing financial consultants throughout North America, Europe and Asia.

Chicago-based Incapital is a U.S. securities and investment banking firm focused on the underwriting and distribution of fixed income securities and structured products through the provision of innovative funding alternatives for debt issuers and investment solutions to broker- dealers.