Signal Hill Capital Group LLC, a Baltimore-based investment banking partnership, said it changed its core focus on Monday to an investment banking advisory business, and no longer provides capital markets-related services, including institutional sales, trading and research.
A majority of the 20-member capital markets team has agreed to join Wunderlich Securities, a full-service brokerage firm based in Memphis, Tenn.
A Signal Hill official said the exact number of people joining Wunderlich is still being worked out.
Most of those who transition to Wunderlich will remain in Baltimore, the official said. Signal Hill employs 50 banking professionals in five offices throughout the country.