Fortis announced it was to acquire Chicago-based O'Connor
and Company in a deal that will more than triple Fortis's
clearing business in the Chicago market.
O'Connor president and CEO William Floersch will become CEO
of the combined organisation, which was expected to become
official in December. Fortis's Chicago office will fold its
clearing operations in with O'Connor and operate under the
O'Connor name until full integration of the two firms is
completed, after which it will assume the Fortis name. Terms of
the deal were not disclosed.
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