“Obviously we buy into the concept that Miller/Russell can achieve its long-term objective more effectively by being independent of any single financial institution,” says Brad Routh, chief financial officer for Marketplace One. “The opportunity to be more directly engaged with Miller/Russell than a client-only relationship is very appealing to us.”
Routh says Marketplace One’s initial major role is to provide capital to help Miller/Russell's execute its strategic plan.
“We’re pleased to have a role in governance of Miller/Russell, but we do not have any day-to-day management responsibilities with the firm,” Routh added. “We believe that our relationship as investment partners will allow both firms to enhance their respective skills and market offerings.”