Matheson Investment Limited to Prudential-Bache International (PBI).

In acquiring the firm, PBI will significantly expand its stockbroking services offered to high net worth investors in the United Kingdom.

PBI, also headquartered in London, is the European affiliate of US investment and brokerage firm, Prudential Securities Incorporated (PSI).

"Matheson's reputation and experience in the private client and institutional markets in the UK are well-established,'' said Stephen Massey, chief executive of Prudential-Bache. "The strategic combination of Matheson's specific capabilities in UK products and research, with our traditional expertise in providing US and global market advice, creates a powerful platform to provide the highest quality financial service to investors in the UK and elsewhere,'' he continued.

Wick Simmons, president and chief executive officer of PSI, said: "The growth of our international business is one of our firm's most important priorities, and this acquisition enables us to directly access UK markets and clients.

"Matheson's strategy of serving increasing numbers of clients with research-based investment advice through fee-based, one-to-one relationships is our favourite model.'' For JMH, managing director Ian Angell said: "As the globalisation of markets continues to evolve, the investment needs of our clients will become increasingly international. We look forward to becoming part of the Prudential-Bache family, and to our enhanced ability to grow our private client and institutional investment businesses under the umbrella of one of the world's premier financial services firms.'' JMH employs approximately 140 people in its City of London headquarters. It currently advises clients with assets of more than 2 billion ($3.2 billion). JMH will now conduct its private client business under the name of Prudential-Bache Limited.

Prudential-Bache provides investment advice and services to international private clients and institutions through a network of 26 offices in 18 countries outside the United States and around the globe. Its affiliate company, Prudential Securities Incorporated, is a fully diversified, global securities firm based in New York City, which, with its affiliate companies, serves clients in the United States and overseas through approximately 6,500 financial advisors in about 300 offices.

Prudential Securities is a subsidiary of The Prudential Insurance Company of America, a United States mutual insurance company.