A Montana stock brokerage has bought downtown L.A.’s Crowell Weedon & Co., the oldest local brokerage and one of just a few remaining in Los Angeles.
Crowell Weedon, founded in 1932, will merge into D.A. Davidson & Co. of Great Falls, Mont., the companies announced Wednesday. Terms of the deal were not disclosed. Crowell Weedon will continue to operate from its downtown Los Angeles office as a D.A. Davidson subsidiary.
Andrew Crowell, grandson of firm co-founder Warren Crowell, will stay on as head of the company, reporting to Jim Kerr, president of Davidson Cos.