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Alabama firm to buy Richmond brokerage firm

Posted to: Business Virginia

By Tom Shean
The Virginian-Pilot
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Anderson & Strudwick, a Richmond-based brokerage firm with an office in Norfolk, has agreed to be acquired by Sterne Agee Group Inc., a Birmingham, Ala.-based provider of investment banking, brokerage, securities clearing and other financial services.

Sterne Agee announced Wednesday that it has signed a letter of intent to buy Anderson & Strudwick and expected to complete the transaction by early January. The terms were not disclosed.

Anderson & Strudwick, founded in 1948, has 18 offices in seven states. Sterne Agee has 45 offices in 23 states, including two in Virginia.

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