published Tuesday, April 3rd, 2012

Morgan Keegan completes sale

Raymond James Financial Inc., completed its previously announced $1.2 billion purchase of the Memphis-based brokerage firm Morgan Keegan & Co. on Monday. Regions Financial Corp., sold Morgan Keegan as part of its plan to raise capital to pay off its Troubled Asset Relief Program loans. Raymond James and Morgan Keegan both operate financial advisory offices in Chattanooga. For now, company officials said the offices will continue operation under their separate names.

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