Houston’s Sanders Morris Harris Group Buys Global Financial Services Stake

Jan 4 2011 | 10:57am ET

Houston-based wealth/asset management firm Sanders Morris Harris Group has completed its purchase of a 50.1% stake in Global Financial Services. The transaction increases Sanders Morris Harris' client assets to approximately $16.1 billion.

Global Financial, also based in Houston, manages about $4 billion. Its principals will continue as managing directors and members of the board of managers of the firm and it will retain its own name and quarters. Global Financial’s founders will maintain ownership of the balance of the business. Its clients are largely international executives, their families and corporations. Its 2010 revenues were approximately $16.4 million.

Sanders Morris Harris also announced that it had consummated the previously announced spinoff of its Concept Capital division. It retains a 43.5% profits interest in the new entity.

Sanders Morris Harris has more than 560 employees in 20 states.


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note