RALEIGH, N.C. Capital Bank Corp. said it has formed an investment services subsidiary.
Capital Bank Investment Services Inc. is offering brokerage, asset management, financial planning, and retirement services in its parents branches through Raymond James Financial Services Inc., a subsidiary of the St. Petersburg, Fla.-based brokerage, Raymond James Financial Inc.
The banking company has also agreed to establish the subsidiary through its purchase of a Raymond James branch. The branch is being bought from Rick C. Rogers, who had run it since 1996 and had previously held posts at Wachovia Bank and at the bank brokerage subsidiary of Legg Mason.
Mr. Rogers is now president and chief executive officer of Capital Bank Investment Services. The purchase of the branch is expected to close by the end of April.
Capital Bank Corp., with more than $344 million of assets, operates 14 banking offices in North Carolina through its subsidiary Capital Bank.