US investment bank takes minority ownership stake in CRUX

Stephens

Elliot Gulliver-Needham
clock • 1 min read
Karen Zachary, CEO of CRUX
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Karen Zachary, CEO of CRUX

Stephens, an American financial services firm, is set to take a minority ownership stake in CRUX Asset Management.

Subject to FCA approval, Stephens will hold approximately 20% of CRUX share capital, with new ordinary shares issued to support the deal. John Stephens, who is currently a senior vice president with Stephens' affiliate Stephens Inc, will join the CRUX board as a non-executive director. Stephens is based in Little Rock, Arkansas, with a European practice in the UK and Germany. Founded in 1933, the firm is one of the largest privately owned investment banks in the United States. Karen Zachary, CEO at CRUX, said on the deal: "This is a very exciting strategic step for CRUX and we are ...

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