Morgan Keegan Absorbs Spectrum Capital Group

Morgan Keegan & Co. has acquired The Spectrum Capital Group, and incorporated it into its investment banking group. Michael Lederman, Spectrum’s managing partner, has been named head of Morgan Keegan’s new special situations group.

PRESS RELEASE

Morgan Keegan & Company, Inc. today announced that The Spectrum Capital Group has become a part of the firm’s Investment Banking Group. Spectrum managing partner, Michael Lederman, has been appointed the head of Morgan Keegan’s new Special Situations Group. Spectrum partner Joseph Sands, who is a Certified Turnaround Professional and a Certified Insolvency and Restructuring Advisor, also joined the Special Situations Group as a Managing Director. Spectrum’s well-established national restructuring practice will complement Morgan Keegan’s offering of investment banking services to the middle market.

“Our commitment to providing our clients with the highest quality investment banking services has led to a number of strategic acquisitions over the past two years,” said Chip Grayson, Morgan Keegan’s Executive Managing Director and Director of Investment Banking. “We’ve had an interest in adding restructuring expertise to our practice for some time, and now we have the right people on board to lead this effort. Mike Lederman’s lengthy experience and respected reputation within the restructuring and investment banking community will translate into tremendous value for our clients.”

Randy Karchmer, Co-Head of Morgan Keegan’s mergers, acquisitions and financial sponsors practice, noted that Morgan Keegan bankers have known and worked alongside Spectrum’s principals for years.

“Through past association, we were able to see the value they provided to their clients. I am delighted to welcome Mike and Joe to our team. They will strengthen Morgan Keegan by complementing our M&A, public equity and debt practices across a wide array of industries,” said Karchmer.

Mike Lederman was a restructuring attorney for Shearman & Sterling; co-founded the restructuring group at Goldman, Sachs & Co.; co-founded The Gordian Group, a boutique restructuring advisory firm; and, has over 25 years of experience restructuring public and private companies. He has completed dozens of restructuring transactions as both advisor and principal, including the only unsolicited takeover of a large public company while in Chapter 11 (Allegheny International, renamed Sunbeam). He and Joe Sands have been partners for a decade and they recently served as the principal debtor-side financial advisors in the restructuring of the convenience store industry. Lederman and Sands will continue operations from their current Bristol, Rhode Island location.

About Morgan Keegan

Morgan Keegan & Company, Inc., one of the largest full-service brokerage and investment banking firms in the nation, is the securities brokerage, trust and asset management arm of Regions Financial Corp.(NYSE:RF). Headquartered in Memphis, Tenn., Morgan Keegan has over 300 offices and more than $850 million in equity capital. Additional information about Morgan Keegan can be found at www.morgankeegan.com.

Morgan Keegan’s investment banking group provides comprehensive merger and acquisition advisory and public equity and private capital raising services to middle-market companies as well as private equity and venture capital funds. With offices in Memphis, New York, Atlanta, Boston, Chicago, Denver, Houston, Los Angeles, Nashville and San Francisco, and approximately 150 professionals, Morgan Keegan’s investment banking group is one of the largest investment banks focused on serving the middle market.

About Regions Financial Corporation

Regions Financial Corporation, with $142 billion in assets, is a member of the S&P 100 Index and one of the nation’s largest full-service providers of consumer and commercial banking, trust, securities brokerage, mortgage and insurance products and services. Regions serves customers in 16 states across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates 1,900 banking offices and approximately 2,300 ATMs. Additional information about Regions and its full line of products and services can be found at www.regions.com.