Ohio’s First Financial Corp signed a deal to acquire Bannockburn Global Forex, LLC, a capital markets firm. Both are based in Cincinnati.
Bannockburn provides transactional currency payments, foreign exchange hedging, and other advisory products to more than 1,500 closely held enterprises, financial sponsors, and downstream financial institutions across the United States.
Founded in 2009, the company has completed more than $90 billion of transactions through more than 150,000 secure transactions. The company primarily focuses on middle-market clients that have a need for tailored foreign exchange solutions through 10 U.S. offices.
“We are excited about the opportunity to expand our capital markets capabilities through the addition of the highly successful Bannockburn team,” said Archie Brown, president and chief executive officer of the $14 billion First Financial Bank.
After the merger, Senior Managing Partner Mark Wendling will continue to lead Bannockburn, which will function as its own division of First Financial.
Lazard served as First Financial’s financial advisor on the transaction, and legal counsel was Vorys, Sater, Seymour and Pease LLP. Squire Patton Boggs LLP served as legal advisor to Bannockburn.