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COR Securities Acquires Clearing Firm

COR Securities Holdings Inc. said on Tuesday that it has acquired Legent Clearing LLC., a securities clearing firm in Omaha, Neb.

COR Securities, the Santa Monica financial services holding company of hedge fund COR Capital LLC., also has increased Legent’s equity capitalization by $20 million to help expand its business. Other financial terms of the deal were not disclosed.

Legent Clearing provides clearing and other services related to completing securities trades for more than 75 broker and dealers around the country.

“We are excited to provide Legent with growth capital and a deep bench of industry veterans to help advise the company in its expansion plans,” said COR Capital Chief Executive Steven Sugarman in a statement.

COR Securities also announced that joining its board of directors will be Alton Jones, former chairman of Pershing LLC; Marshall Geller, former senior managing director of Bear, Stearns & Co.; and Ric Duques, former chairman and chief executive of First Data Corp.

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