CHICAGO - Montana-based D.A. Davidson & Co. has extended its reach into Iowa following the completion of its acquisition last weekend of Des Moines-based brokerage Ruan Securities Corp. and its 13-member team, which is primarily focused on municipals.
The agreement for D.A. Davidson to acquire the family-owned Ruan was announced in late January. Ruan will keep its name due to its local name recognition but will also be identified as a division of D.A. Davidson and folded into the 130-member, fixed-income capital markets group managed by Sam Doyle.