BGC Partners purchases municipal dealer Wolfe & Hurst, plans expansion

By Sahara Marte

New York, May 30 - BGC Partners, Inc. announced it will acquire municipal bond interdealer broker Wolfe & Hurst Bond Brokers, Inc.

The purchase is expected to close later in the year and is subject to approval from Finra and other regulators, according to a press release.

Wolfe & Hurst will be integrated into BGC's MINT Partners subsidiary once the transaction is completed.

BGC Partners aims to use its capital, technology and existing industry relationships to expand Wolfe & Hurst.

Wolfe & Hurst is a Jersey City, N.J.-based provider of brokerage services in municipal, corporate and government bonds to broker-dealers and dealer banks.

BGC Partners, Inc. is a New York-based inter-dealer broker that provides integrated voice and electronic execution and other services to banks, brokerage houses and investment banks.

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