Alexandra Lebenthal has sold a 49% stake in Lebenthal & Co., an iconic firm in in the municipal market, to South Street Securities.
The sale comes as the firm has struggled to grow, shuttering a wealth management unit last summer that failed to take off despite some early high profile hires. Lebenthal said in an interview last summer that the unit was unable to attract top wirehouse advisers in a highly competitive and costly recruiting environment.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access