B. Riley to acquire remaining 55% of National Holdings
The combination of Los Angeles-based B. Riley and New York-based National Holdings will result in a firm with roughly 900 registered representatives and $29 billion in client assets.
January 11, 2021
B. Riley Financial, Inc., a Los Angeles-based diversified financial services firm, has agreed to acquire the remaining 55% of New York-based National Holdings Corp., an investment banking and asset management firm, that it didn’t own already.
National’s largest subsidiary, National Securities, founded in 1947, operates primarily through independent registered representatives. National had 733 registered representatives managing $18.9 billion in client assets. It reported revenues of $229.9 million for its fiscal 2020, ending September 30, 2020.