Janney Montgomery Scott LLC, the largest and oldest investment bank in Philadelphia, will soon exit this realm in favor of focusing exclusively on its wealth advisory business, writes Joseph DiStefano for The Philadelphia Inquirer.
The decision to maneuver against its nearly 200-year history as an investment bank and place its emphasis on stock broking comes more than a year after Janney was purchased by private-equity owner KKR.
The broker analysts will be responsible for selling stocks, exchange-traded funds, and over improved investments.
Tony Miller, the CEO of Janney, said that this shift will present a better road for long-term success.
Janney is planning to sell the last of its bond and investment banking units to Ohio-based regional bank Huntington Bancshares. Meanwhile, the plan is to sell its financial institutions banking, research, and sales units to New York-based financing firm Brean Capital.
The deals are expected to close in early 2026, while Janney will remain based in Philadelphia.
Read more about Janney Montgomery Scott LLC’s decision to exit its investment banking and shift to stock broking in The Philadelphia Inquirer.
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Editor’s Note: This post was originally published on PHILADELPHIA Today in December 2025.
