LaBranche board still considering strategic alternatives

By Lisa Kerner

Charlotte, N.C., Dec. 21 - LaBranche & Co. Inc. said it will focus on its current business activities as its board of directors continues to consider alternatives for enhancing shareholder value.

LaBranche plans to implement cost-cutting initiatives, including interest savings from the reduction of its public debt, "as opportunities arise," according to a company news release.

In July, LaBranche announced it had retained Freeman & Co. Securities LLC and Weil, Gotshal & Manges LLP to assist in the review process.

New York-based LaBranche, through its subsidiaries, operates as a registered broker-dealer and specializes in exchange-listed securities.

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