Hilltop Holdings in Dallas has rebranded its securities unit as it prepared to combine two broker-dealer businesses it picked up from a recent acquisition.
The $12.4 billion-asset company disclosed in a regulatory filing Friday that Southwest Securities was renamed HilltopSecurities last month. Hilltop also disclosed that it plans to integrate FirstSouthwest, a separate broker-dealer unit, into HilltopSecurities in January.
Hilltop, the parent of PlainsCapital Bank, gained Southwest Securities and FirstSouthwest when it bought SWS Group earlier this year.
Hilltop said the combined unit will have 53 offices in 17 states, along with $14 billion in retail client assets under management and $41 billion in clearing services client assets. HilltopSecurities will also handle $20 billion in municipal cash management assets.
The unit, through Sept. 30, earned $6.4 million, before taxes, the filing disclosed.
