Columbus, Ohio-based Huntington Bancshares Inc. agreed to buy Hutchinson Shockey Erley & Co., a Chicago-based public finance investment bank and broker/dealer with a focus on municipal securities.
Financial terms of the deal were not disclosed.
Current CEO Thomas Dannenberg will continue to head Hutchinson Shockey Erley & Co.
The firm will operate as a stand-alone broker/dealer working under Huntington Capital Markets, and it will continue to function under the Hutchinson Shockey Erley & Co. brand and remain headquartered in Chicago.
The deal is expected to close in the fourth quarter.
Keefe Bruyette & Woods Inc. was exclusive financial adviser to Hutchinson Shockey Erley & Co.