Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: TUESDAY, January 17, 1995 TAG: 9501170128
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE: MAG POFF STAFF WRITER
DATELINE: LENGTH: Medium
The resulting firm - Ferguson, Andrews, Anderson & Strudwick - will have about 125 employees in seven offices throughout Virginia. The headquarters will remain in Roanoke.
Ferguson, Andrews president T. Michael Smith said the deal is expected to close in 60 to 90 days, pending approval by regulators. He said the Roanoke operation, including a downtown office on South Jefferson Street, would not be affected.
``This acquisition will give our combined firm a major statewide presence,'' said J. Gray Ferguson, the company's chairman. He said the merger ``will significantly strengthen our services in underwriting, market making and investment advisory services, as well as give our brokerage operations a tremendous boost.''
Ferguson, Andrews and Associates was founded in 1992 and has expanded to five offices in Bristol, Charlottesville, Lynchburg, Richmond and Roanoke.
Anderson & Strudwick was established in 1948 in Richmond and has offices in Charlottesville, Fredericksburg, Lynchburg, Norfolk and Richmond.
The duplicate offices in Lynchburg, Charlottesville and Richmond will be merged, leaving a net of seven locations. Ferguson said the company will retain all employees of the merged firms, however.
Ferguson, Andrews Investment Advisors Inc. of Charlottesville will continue as a wholly owned subsidiary of the company, providing asset-management services to clients.
Charles M. Mills III, chairman of Anderson & Strudwick, said the combined operations would provide better service to current customers and attract new clients with better products than the firms could ever provide as separate organizations.
by CNB