Avondale Partners, a US investment bank headquartered in Nashville, Tennessee has created a private client group to provide wealth management and investment consulting services to both institutional and individual investors, their families and businesses.

The firm also said in a statement that John Glennon and Steve Glasgow, who bring a combined 50-plus years of industry experience, are joining Avondale to launch this new division.

Mr Glennon, who will lead the group, had most recently been with Stanford Group Company since 2006, serving as managing director in the firm's private client group. Prior to that he was vice president, wealth management, with Smith Barney for 15 years, after serving as a senior vice president with Dean Witter Reynolds for almost 10 years.

Prior to his work as senior vice president, financial advisor at Stanford Group Company, Mr Glasgow had worked with Wachovia Securities and Morgan Stanley.