Performance Trust to acquire market-making platform

Chicago-based Performance Trust is acquiring national market-making platform Monroe Financial Partners. 

The transaction is expected to close in the first quarter of 2024. Financial terms of the deal were not disclosed.

Chicago-based Monroe Financial Partners includes more than 350 community bank stocks as well as eligible private bank stocks and preferred securities. Monroe is expected to continue to operate under its name as part of Performance Trust, with traders Michael Shea and Ford Dickinson continuing in their current positions.

“Given the challenging operating environment for banks, we expect there will be opportunity for growth and market share gains for those who are prepared,” said Performance Trust Head of Equities Daryle DiLascia. “This acquisition will enhance our ability to help our clients win and confidently act on a broader set of strategic options.”  

The acquisition is Performance Trust’s second investment banking-related buy. In 2019, the company acquired investment banking firm Banks Street Partners. “We are excited for the equity trading team to join Performance Trust during a period of significant growth,” said Monroe Financial Partners President and Co-Owner Dan Kanter.