Corus Bankshares, Chicago, announced Monday it has a deal to buy two local investment advisory firms, Lawton/Russell and Moss Lawton Co. Terms of the deal were not disclosed.
The deal, which is expected to close this month, would expand $2.3 billion-asset Corus' line of investment products. Its customers may already buy some securities funds through the bank, but the acquisitions would give them access to the Russell 2000 small-cap index fund, said David H. Johnson 3d, executive vice president and chief operating officer at Corus.
Lawton/Russell, which along with Moss Lawton has $300 million under management, is affiliated with Frank Russell Investment Management Co., Tacoma, Wash. Only affiliates of that company may sell shares in the Russell 2000 small-cap index fund.
Gregory M. Lawton, president and owner of Lawton/Russell and Moss Lawton Co., would become chief investment officer and managing director of Corus' new investment advisory unit, Corus Asset Management.
- Alan Kline and Laura Pavlenko Lutton