September 17, 2013
HeadInvest managers buy firm from Androscoggin Bank
Managers of the Portland-based HeadInvest have purchased the investment advisement firm from Androscoggin Bank.
The company said it will retain its management team, led by Managing Director and Chief Investment Officer Carl Gercke, in its transition to becoming an employee-owned firm, according to a press release.
The company, founded in 1989, provides investment advice to individual investors, nonprofit organizations and other institutional clients. In 2006, Head and Associates became a wholly owned subsidiary of Androscoggin Bank. The firm is registered with the U.S. Securities Exchange Commission as an investment adviser.
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