Euro Pacific Buys Rival’s Foreign Unit

Money manager Euro Pacific Capital of Newport Beach said Tuesday that it had bought the international brokerage division of rival Roth Capital Partners, another Newport Beach firm.

Euro Pacific said the deal would bring it about 1,700 new clients and nearly $100 million in assets, boosting its total assets to more than $350 million.

Euro Pacific, headed by Peter Schiff, focuses primarily on foreign investing. Schiff is well known for being bearish on U.S. assets. He believes the large U.S. trade deficit will lead to a sharp decline in the dollar, beyond the losses the currency has racked up over the last two years.