PRINCETON, N.J. - Summit Bank said late Monday it will acquire the investment banking and corporate finance advisory firm of Howard, Lawson & Co. LLC, for an undisclosed sum.
Howard Lawson was founded in 1972, and is based in Philadelphia. Summit and Howard Lawson have been in a strategic alliance for the last year and a half.
Summit said the deal will expand its fee-based advisory services. It plans to integrate Howard Lawson into the bank's capital markets division.
Joel S. Lawson 3d, Howard Lawson's chairman and chief executive officer, will become president and senior managing director in charge of the division. Mr. Lawson will report to Douglas L. Kennedy, senior executive vice president of Summit's corporate banking department.