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Rating:BB&T Makes a Buy Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, January 28, 2002

BB&T Makes a Buy

Reported by Tony Pennino

BB&T Coporation is purchasing Ryan, Lee & Co., an investment banking and brokerage firm based in McLean, Virginia. Ryan, Lee will become a part of Scott & Stringfellow, a BB&T unit based in Richmond, Virginia.

Patrick Ryan -- president of Ryan, Lee -- will become a managing director of Proprietary Trading by Scott & Stringfellow.

Ryan, Lee offers personal investment services to individual investors and institutions in a number of arenas including mutual funds.

According to John Sherman, president and ceo of Scott & Stringfellow, the purchase of Ryan, Lee improves his firm's presence in the Washington, D.C. area.

"Our long relationship with Scott & Stringfellow was a major factor in our decision to combine our business," stated Ryan. "We're excited about the prospect of being united with BB&T and Scott & Stringfellow. We will be able to take advantage of many additional resources which will enable us to provide more extensive investment services to our clients." 

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