Brown Advisory acquires Austin investment firm
Brown Advisory, a Baltimore-based independent investment firm, has acquired a small Austin, Texas, investment company to establish an office there. The four-person staff at Blackhaw Wealth Management will join Brown Advisory. The firm’s founder, Ian McAbeer, will serve as head of the Austin office. Financial terms of the deal were not disclosed. Three financial advisers from Austin-based Oxbow Advisors also will join the new Brown Advisory office, but Brown is not acquiring that firm, a spokesman said. “When we meet good folks with similar missions ... a decision to invest in them becomes relatively easy,” said Mike Hankin, president and CEO of Brown Advisory, in a statement. Brown Advisory was founded in 1993 as an affiliate of former Baltimore investment bank Alex. Brown & Sons, and became independent in 1998.