Huntington Bancshares in Columbus, Ohio, has agreed to buy the Chicago investment bank Hutchinson, Shockey, Erley & Co.
The $105 billion-asset Huntington did not disclose how much it will pay for HSE, a public finance investment bank and broker dealer that focuses exclusively on municipal securities. The deal is expected to close in the fourth quarter.
HSE “is one of the premier municipal securities firms in the industry,” Scott Kleinman, executive managing director of Huntington Capital Markets, said in a Thursday press release. “They have an incredibly strong team of seasoned public finance professionals who average more than 26 years of experience.”
HSE has 11 offices and 51 employees in nine states. It will continue to be led by CEO Tom Dannenberg. The firm will retain its brand and remain based in Chicago.
Keefe, Bruyette & Woods advised HSE.