Capital Institutional Services (CAPIS), an institutional securities broker/dealer, has completed the acquisition of Financial Technology Securities from Innovest Systems.
Effective January 2, 2019, FinTech Securities, an Atlanta, Georgia-based broker/dealer that provides trading solutions to institutional money managers, was acquired by CAPIS. In the near term, FinTech Securities will continue to operate as a fully-owned subsidiary of CAPIS.
CAPIS CEO Kristi Wetherington said: “Over the past year, we at CAPIS have made an extensive commitment to serving the institutional investment community. Our acquisition of FinTech Securities will expand our footprint in this very important market segment.
“It is our goal to continue offering superior service and execution skills to our customers and add new clients through both sales and acquisitions.”
In support of this goal, CAPIS promoted Jon Lantz, a 12-year CAPIS veteran, to the position of Director of Bank & Trust Services. With Lantz leading the efforts, CAPIS recently released their electronic bond trading tool, BondRoute, giving clients the ability to execute fixed income securities electronically from their desk.
CAPIS president Tim Hall said: “CAPIS is looking to further gain market share in the bank & trust industry through this acquisition. We are continually working to widen our presence in this market. In the last year, we have also bolstered our efforts in outsourced trading and transition management.
“We will continue to strengthen our product line through purchases and acquiring experienced and talented individuals.”