Adams Keegan Company

Morgan Keegan is keen on more gain for its clients. Acquired by Raymond James from Regions Financial in 2012, the firm offers a range of financial advisory, asset management, and investment banking services. Working alongside its new parent company, its Private Client Group offers individual investors access to stocks, bonds, mutual funds, annuities, managed accounts, insurance, mortgages, equity research, and financial planning services. Its investment banking practice focuses on financial institutions and tax-exempt entities. Morgan Keegan has more than 300 offices in nearly 20 states. Serving banks, insurance companies, and money managers, the company's fixed-income capital markets division provides securities sales, underwriting, trading, and research. Its public finance investment banking group specializes in financing for airports, utilities, schools, universities, and health care facilities. Morgan Keegan was bought by Raymond James for some $1.2 billion. Following the completion of the deal Morgan Keegan's fixed-income capital markets and public finance investment banking group were rebranded as Raymond James | Morgan Keegan. Its equity capital markets and corporate finance investment banking groups were combined with Raymond James' corresponding teams. The acquisition came after Morgan Keegan finished 2010 in the red after setting aside $200 million to cover probable losses relating to an SEC investigation of several of its mutual funds that held millions of dollars in risky subprime mortgages. Investors who suffered severe losses said that Morgan Keegan misrepresented the activities of those funds. In 2011 the company settled the charges for $210 million while neither admitting nor denying any wrongdoing.