D.A. Davidson to acquire Ruan Securities

By Devika Patel

Knoxville, Tenn., Jan. 30 - D.A. Davidson & Co. plans to acquire the principal assets of Ruan Securities Corp., according to a Friday press release from D.A. Davidson.

The deal is expected to be completed in March.

With the transaction, Ruan and its 13-person workforce will become a division of D.A. Davidson.

Ruan will continue to operate from its Des Moines headquarters and will keep its name.

The firm will become a part of D.A. Davidson's fixed-income capital markets group, operating under the direction of president Sam Doyle.

Ruan is a public finance and fixed-income sales and trading business. D.A. Davidson is an investment firm based in Great Falls, Mont.

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