Compass Bancshares, a regional US bank, has bought Stavis, Margolis Advisory Services, a Texan-based financial planner and investment advise...

Compass Bancshares, a regional US bank, has bought Stavis, Margolis Advisory Services, a Texan-based financial planner and investment adviser with $500 million of assets under management. Terms of the deal were not disclosed. D. Paul Jones, Compass' chief executive, said the purchase will help the Birmingham, Alabama-based bank increase fee revenue and offer more services to wealthy investors. Stavis, Margolis' management team, including Chief Executive Deborah McCully Stavis and President Mary Banic Margolis, will continue in their current roles. Founded in 1996, the firm will keep its name and operate as a unit of Compass Bank. Compass has about $28 billion of assets, and operates 376 banking offices in Alabama, Arizona, Colorado, Florida, New Mexico and Texas.