B. Riley Acquires Caris to Add Research as Other Brokers Close

B. Riley & Co., the Los Angeles-based investment bank, bought stock-research firm Caris & Co. to increase its sales and trading business amid a slowdown in the brokerage industry.

B. Riley, founded in 1997, is adding nine analysts, 12 salesmen and four traders in San Francisco, New York, Los Angeles, San Diego and Atlanta, Chairman Bryant Riley said today in a telephone interview. Darren Caris, who was president of Caris & Co., will run research, sales and trading, the company said in a statement.