NEW YORK - Chase Manhattan Corp. said Thursday that it has completed its acquisition of boutique investment banking firm Beacon Group LLC.
Terms were not disclosed. The transaction brings Chase roughly 120 employees in Beacon's offices in New York, Boston, and Los Angeles.
Chase announced its intention to buy Beacon in May, in its third deal for a small investment banking operation since last fall.
James B. Lee Jr., a Chase vice chairman who was in charge of investment banking, relinquished that post to focus on client relationships. Geoffrey T. Boisi, a senior partner at Beacon and before that a 22-year veteran of Goldman Sachs & Co., took over the investment bank as part of the Beacon deal.