LAREDO, Tex. International Bancshares has acquired a controlling stake in GulfStar Group, a Houston-based investment banking firm.
Terms of the deal were not disclosed.
International Bancshares said it expects to generate fees and investment income from GulfStar, which owns an interest in the New York-based investment banking firm Sandler ONeill & Partners LP.
International Bancshares, a multibank holding company with $5.6 billion in assets, said it will operate GulfStar independently.