Fortis acquires O'Connor

Fortis announced it was to acquire Chicago-based O'Connor and Company in a deal that will more than triple Fortis's clearing business in the Chicago market.

O'Connor president and CEO William Floersch will become CEO of the combined organisation, which was expected to become official in December. Fortis's Chicago office will fold its clearing operations in with O'Connor and operate under the O'Connor name until full integration of the two firms is completed,...