Santander Holdings Buys Amherst Pierpont Securities
Posted on 07/18/2021
Banco Santander SA’s U.S. unit, Santander Holdings USA, agreed to buy Amherst Pierpont Securities. The deal gives the Spanish bank greater access to fixed income trading in the U.S. Santander Holdings USA bought the independent broker-dealer through a US$ 600 million takeover of its parent company, Pierpont Capital Holdings LLC
Amherst Pierpont Securities was designated a primary dealer of U.S. Treasuries by the Federal Reserve Bank of New York (FRBNY) in 2019, and is one of only three non-banks with that designation.
