Three executives of MBM Advisors, an investment manager and record keeper for corporate retirement plans, have repurchased the company from Sterling Bank of Houston, which was sold last month to Comerica Inc.
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Sterling had purchased MBM, also of Houston, in 2007.
Chairman Donald Black, CEO Lindsey Black and President Robert Burnam made the announcement Monday. MBM has $1 billion of assets under management, according to a press release. Donald Black bought the company in 1981 and helped oversee its sale to Sterling.
