The deal brings long-standing brokered CD specialist under InspereX Holdings as founders remain in office through the transition.
InspereX Holdings LLC, the parent company of US structured products issuer and distributor InspereX, said that it is acquiring New Jersey-based Financial Northeastern Securities. The company did not disclose the financial terms of the transaction. Financial Northeastern was founded in 1984 by Steven Zage and Jeffrey Zage and has since developed a substantial presence in the brokered certificates of deposit (CD) market. The firm has underwritten and distributed more than US$186 billion in broke