BARRA RogersCasey may be up for sale. Officials at parent BARRA Inc. said they are reviewing options for the 25-year-old investment consulting firm, including a possible sale. Recommendations from investment banker CIBC World Markets are due in October. If the firm is put up for sale, a potential suitor could be a professional service firm or another investment consulting firm, said Robin Pellish, senior managing director of BARRA RogersCasey.
Richard Morris, president of Putnam Lovell Securities, said RogersCasey could be attractive to a custodial bank or a major consulting firm. He said the firm might sell for the amount of its annual revenues, which now exceed $20 million. BARRA purchased the firm in 1996 in a stock swap valued at $17 million.
