- McLiney, a family owned firm, merging with Texas’s Samco
- Small underwriters are disappearing in face of competition
McLiney and Company, a Kansas firm that’s been run by the same family for 54 years, is joining the ranks of small, stand-alone municipal-bond underwriters that are disappearing as Wall Street Goliaths expand their dominance of the $400 billion-a-year business.
But under a deal struck to merge with a rival, it’s not entirely losing its blood ties.
The Mission, Kansas-based McLiney, which was founded in 1965 by the son of municipal-bond banker George McLiney Jr., said on Tuesday that its seven employees would join Samco Capital Markets, a larger underwriter based in Austin that specializes in Texas debt.
Bloomberg Deals
By Amanda Albright
December 11, 2019, 7:33 AM PST