Investment Banker Forms NY Fixed-Income Unit

Sanders Morris Harris Group Inc., a Houston-based investment banking firm, has announced the formation of an expanded fixed-income unit based in New York.William Sprague, a Sanders Morris Harris managing director, said the firm capitalized on a unique opportunity after Merrill Lynch acquired assets of the Advest Group from AXA Financial. "A complete 30-person fixed-income team chose to join Sanders Morris Harris, giving us the nucleus that we plan to expand in the months ahead," Mr. Sprague said. The firm offers a full range of investment banking services, including brokerage services for hedge funds and mortgage-related fixed-income security sales and trading. It can be found online at http://www.smhgroup.com.