Evercore, an investment bank that often advises others on M&A deals, plans two acquisitions of its own.
The company has agreed to buy the operations of ISI International Strategy & Investment, an equity research firm in New York, in an all-stock transaction. The two companies plan to merge their sales, research and agency trading divisions.
In a separate transaction, Evercore said it plans to buy the 40% portion of its institutional equities division owned by others.
The combined business will be rebranded as Evercore ISI Institutional Equities.
A purchase price was not disclosed for either acquisition.
Evercore provides investment-banking services to banks and other businesses, and it also competes with banks in offering research and investment management services.
The deal advances "our goal of establishing the company as an elite and scale provider of non-proprietary equity capital markets advice and execution," Ralph Schlosstein, Evercore's president and chief executive, said in a press release Sunday.
The deals are expected to close in the fourth quarter.
The combined company will be run by an executive committee comprised of Vinayak Singh, ISI's current president; Charles Myers, head of Evercore's institutional equities business; and Ed Hyman, chairman and founder of ISI. Hyman will also serve as chairman of the combined business.
ISI has 226 employees located in seven offices. Evercore Institutional Equities employs 80 people in three separate offices.