Few investment banks know the trust-preferred securities market as well as FTN Midwest Securities Corp. Since 2001, the First Horizon National Corp. unit has structured more than 30 pooled trust-preferred deals, raising $22 billion for hundreds of banks and thrifts.

But the securities have lost much of their luster and value in the last year, so now, after years spent trying to round up buyers, several longtime FTN employees have launched a Nashville venture, Wolf River Capital, that is looking to take the shares off investors' hands.

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