Guaranty Bank and Trust Announces Asset Purchase Agreement With Private Capital Management Inc.
June 04, 2012 10:00 ET
Guaranty Bank and Trust Announces Asset Purchase Agreement With Private Capital Management Inc.
Experienced Wealth Management Firm to Join Guaranty Bank and Trust
DENVER, CO--(Marketwire - Jun 4, 2012) - Guaranty Bank and Trust Company, a Colorado-based community bank and wholly-owned subsidiary of Guaranty Bancorp (
"The combination of Guaranty Bank and Trust's extensive banking products, local commitment and Front Range branch network with Private Capital Management's wealth management expertise and proprietary quantitative investment process will further enhance our existing wealth management practice as we continue to assist individuals and businesses looking for a Colorado-based partner to help them achieve their financial goals," said Paul W. Taylor, Chief Executive Officer of Guaranty Bank and Trust.
Prior to starting Private Capital Management, Meade was the President of Fidelity Brokerage Services, Inc., a division of Fidelity Investments. He also served as President and COO of Kemper Securities Group Holdings and as Chairman, President and CEO of Denver-based Boettcher & Co.
"The decision to join Guaranty Bank and Trust came after thoughtful consideration of a partnership that would be in the best interest of our clients," said Tom Meade, President of Private Capital Management. "During discussions with CEO, Paul Taylor, and President, Michael Hobbs, it became clear that Guaranty Bank and Trust shares the same vision for serving the needs of clients while remaining focused on long-term relationships."
Private Capital Management will become a separate division of Guaranty Bank and Trust and will serve as its Wealth Management Group. Meade will continue to serve as President of PCM and there will be no changes to the firm's proprietary quantitative investment process, financial planning or investment advisory services. Private Capital Management will remain in Cherry Creek and all of its employees will be retained.
The transaction is expected to close in the third quarter 2012 subject to regulatory approval. Financial terms of the deal were not disclosed.
For additional information about Guaranty Bank and Trust, please visit [ GuarantyBankCO.com ]. For additional information about Private Capital Management, please visit [ pcm-inc.com ].
About Guaranty Bank and Trust Company
Guaranty Bank and Trust Company, a wholly-owned subsidiary of Guaranty Bancorp (
Forward-Looking Statements
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