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Southern California's Research Player

Traders Magazine, August 2003

Staff Reports

Another specialized investment banking operation has thrown in the towel, deciding to merge with one of its rivals. B. Riley & Co., a Los Angeles-based institutional research firm, is merging with Friend & Company, an investment banking firm that has specialized in the small-cap banking market. Friend will become a division of B. Riley and Co., making it one of Southern California's biggest independent research firms, Riley officials said. Riley tries to focus on small to mid-sized companies that are ignored by bigger Wall Street firms. Riley officials added that all of Friend's employees and principals will be retained in the merged firm.

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