MONTGOMERY, Ala. – Birmingham-based Regions Financial Corp. has acquired the Montgomery-based Frazer Lanier Company, Inc., Regions announced on Thursday.
The acquisition will combine two Alabama-based financial powerhouses, opening new opportunities for municipal and public sector clients, Regions said in a press release.
Frazer Lanier, an investment banking firm, was founded in 1976 and specializes in municipal and corporate securities. The multi-state Regions Financial Corp. will integrate the firm and its employees into the bank’s capital markets division under the corporate banking group.
“Two of our top priorities at Regions Bank are strategically expanding our services and investing in top-tier banking talent,” said John Turner, Chairman, President and CEO of Regions Financial Corp. “By welcoming experienced bankers from Frazer Lanier to the Regions family, we are connecting Regions’ clients with even greater capabilities while advancing our long-term strategy for growth.”
Regions has a much larger footprint and said that combining with an experienced firm like Frazer Lanier will lead to strengthened client services for municipalities.
Regions’ Head of Corporate Banking Brian Willman called the acquisition a “natural fit.”
“Frazer Lanier has built trust by staying close to clients and helping them navigate important decisions. That’s exactly how we approach relationships at Regions,” Willman said in the release. “Together, we can expand that model by bringing more ideas, more capabilities and more connectivity to clients across our markets.”
Regions Financial Corp. is a member of the S&P 500 Index with more than $161 billion in assets.