Raul Henriquez, executive chairman of Global Investor Services LC, has bought a controlling interest in Northeast Securities Inc.
The acquisition includes Northeast Asset Management Inc. and Benchmark Capital Advisors Inc. and represents a total of $5.5 billion in client assets.
Pending regulatory approval, Henriquez plans to merge Northeast's international business operations with those of Global Investor Services. The combined effort will represent more than $8 billion in customer assets. Until those businesses merge, Northeast Securities and Global Investor Services will continue to operate independently but in a coordinated way, with Henriquez taking on the role of chairman at Northeast Securities.