Banking

Longtime Wachovia subsidiary now independent

Longtime Wachovia subsidiary now independent

Barry, Evans, Josephs & Snipes, a financial services firm in Charlotte, announced this week that it has re-established itself as an independent firm after operating for nine years as a subsidiary of Wachovia Corp.

The firm, which serves corporations and wealthy individuals, was founded in 1982 and has been operating as a Wachovia subsidiary since 1999. The firm recently purchased its company name, certain accounts and other assets from Wachovia.

“Being an independent firm is consistent with our entrepreneurial spirit, our commitment to innovation, and most of all, our focus on building long-term relationships with the individuals, families and corporations we serve,” said chief executive John Barry. Christina Rexrode

Carousel Capital acquires Mergent Inc.

Carousel Capital, a Charlotte private-equity firm, said Friday that it has acquired Mergent Inc.

Mergent, based in Fort Mill, S.C., provides data on public and private companies to reference libraries, investors and others around the world. Mergent was acquired from Xinhua Finance Limited, a financial information provider in China.

Carousel said that, after the acquisition, Mergent's management team would “have significant ownership in the business.” Carousel invests primarily in three sectors: business services, consumer products and services, and health care services. Christina Rexrode

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