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First Affiliated Securities will cut costs, add another line of business and change its address following the local arrival of Jonathan Bekhor, the Englishman who purchased the brokerage almost three years ago.
After more than a year of preparations, Bekhor has arrived in San Diego to keep closer tabs on the Miramar-area brokerage.
"He's here permanently," said Ward Clarke, FAS spokesman.
Bekhor moved his family to San Diego last month, but he was traveling in England last week and was not available to comment.
Bekhor, owner of A.J. Bekhor & Co., the London-based parent of FAS, will not take complete control of the Miramar-based firm, said Clarke.
"To say that he's running the firm is light years off-base," said Clarke. "What he's doing, in short, is orchestrating the firm's long-term goals and objectives."
Putting FAS back in investment banking is one of Bekhor's primary goals, said Ken Elsberry, chief executive officer of the firm.
The brokerage had underwritten companies from the late 1970s to the mid-1980s, when its corporate finance department was in full swing. Cutbacks at FAS following the October 1987 stock market crash, however, put an end...