Alex. Brown to reopen Annapolis office

Alex. Brown, a Baltimore-based subsidiary of financial services company Raymond James, is reopening a wealth management office in Annapolis.

The office will be located at the Annapolis Towne Centre at Parole on Somerville Road and will continue to rebuild the legacy investment banking name that established Baltimore as an early financial center.

“The opportunity to bring the Alex. Brown name back not just nationally but in a city that was part of our history is remarkable,” said Alex. Brown President Haig Ariyan, in a statement.

Founded in the early 1800s, the Alex. Brown name was stamped out in a series of acquisitions by Bankers Trust Corp. and Deutsche Bank. The company’s Annapolis branch closed under Deutsche Bank about 20 years ago.

In September 2016, Florida-based Raymond James acquired Deutsche Bank’s U.S. wealth services division and restored the Alex. Brown brand.

The Annapolis branch is integral to the company’s plans for growth outside Baltimore, in the Washington, D.C., area, Ariyan said.

“There is ample opportunity to deepen our support for clients and their advisors throughout the mid-Atlantic, and this is one way we’re pursuing it.”

The company has tapped Alex. Brown veteran Craig Decker, who started his career at the firm’s former Annapolis office, to lead the branch.

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