Raymond James Financial said Wednesday that it had agreed to buy Roney & Co., a midwestern brokerage, from Bank One Corp. for $80 million in cash.

Detroit-based Roney would be run by William C. Roney 3d as a division of Raymond James & Associates and eventually take its name, the brokerage said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.