Will Regions Financial Corp find a buyer for Morgan Keegan?
That’s been a question in the industry for months, but recent speculation points to a very slim chance of it happening.
What makes it more interesting is that it now appears that it may be Regions Financial itself that is “on the block.” This, according to Marty Mosby, bank analyst with Guggenheim Securities LLC as reported to Andrew Osterland for InvestmentNews on Dec. 11.
Hoping for a private-equity firm buy-out, negotiations fell apart during the summer, and now it looks like strategic buyers Stifel Financial and Wells Fargo are the only possibilities, with most advisors preferring Stifel.
Regardless of the outcome, big changes are ahead for the advisors at Morgan Keegan and with the uncertainty and hurdles they face, financial industry recruiters are looking for more to “jump ship”.