M and A
Latest News for M and A
- September 3, 2010 - Scout Investment Advisors Takes Over $9.8 Billion Investment Firm
Scout Investment Advisors has agreed to fully acquire Columbus-based investment management firm Reams Asset Management. Financial terms of the deal were not disclosed, but Reams manages over $9.
- September 3, 2010 - Ladenburg Thalmann Acquires Las Vegas Trust Firm
The Miami-headquarted broker-dealer Ladenburg Thalmann Financial Services has acquired Las Vegas-based Premier Trust in order to bolster its offering to include trust services. Terms of the deal were not disclosed.
- September 2, 2010 - BNY Completes Purchase Of Canadian Wealth Manager
BNY Mellon has completed its acquisition of Toronto-based wealth manager I(3) Advisors. The purchase marks BNY’s entry into the Canadian wealth market.
- August 27, 2010 - State Street In Possible Purchase Of Irish Asset Manager
State Street Corporation is discussing a possible purchase of Bank of Ireland’s asset management business, according to Bloomberg, which cited unnamed sources. The unit holds about €25 billion (around $31.
- August 26, 2010 - Investment Industry M&A Slackens, But Expect More Deals Ahead - Jefferies
A backlog in merger and acquisition deals for the asset management industry will see a rush of activity in the next 12 to 18 months, predicts Jefferies’ Financial Institutions Group, the international securities and investment banking firm. Global transaction activity slumped in the first six months of 2010 compared with a strong year in 2009, the firm said.
Latest Features for M and A
- March 22, 2010 - M&A Prospects For Wealth Managers Brightening
Merger and acquisition prospects for wealth managers are improving, and will brighten even more as the year progresses, according to Steven Levitt, managing partner for Park Sutton Advisors, a New York-based investment banking firm. “We’re starting to see a resurgence of interest from a variety of groups,” Levitt said, “with more acquisition interest in firms with assets under management ranging from $500 million to $2 billion". The bulk of revived M&A activity will take place in six to nine months as regional banks are better positioned to do deals after recapitaliz.
- December 8, 2008 - Wachovia’s Wealth Markets' Gregor: Growth In Limbo
In an industry that’s been turned on its head, within a firm about to be swallowed by an acquirer, the leader of a financial services business targeting wealthy clients remains focused on the task at hand. “Everything is on the table for review,” says Stan Gregor, Wachovia Wealth Management Wealth Markets president – head of the business that advises clients with $5 million - $50 million of investable assets. Under normal circumstances this uncertainly could be a serious concern coming from a strategist seeking to grow a client base among the extremely wealthy in North America, but these are not normal circumstances, and the majority of Wachovia’s wealth management competitors are in the same boat: either they are in the process of merging with ano.
- July 9, 2007 - The Winners & Losers in Recent US Wealth Management M&A Activity
The completion, on 2 July, of both Bank of America’s $3. 3 billion acquisition of US Trust Corporation and Bank of New York’s $16. 5 billion takeover of Pittsburgh-based Mellon Financial, was a red letter day for the US financial services industry.
- December 5, 2002 - Wealth report: M&A activity picks up in US wealth management
The past six months have seen US wealth managers generate a flurry of mergers and acquisitions, as firms race to grab assets and market share in a weak economy. Most notably, AMVESCAP snapped up New York private wealth manager Whitehall Asset Management from the Industrial Bank of Japan Trust; American Express Private Bank bought Schroders Private Bank's Miami business; and Wells Fargo acquired FAS Holdings, a San Diego investment firm. Many larger wealth managers are also buying up smaller firms to gain a presence in new markets.
- January 27, 2005 - Merrill’s Sows the Seeds of Confidence
Fresh from announcing strong profits, Merrill Lynch said it is exploring acquisitions in the retail and private client brokerage industry. America’s largest private client stockbroker believes it can take advantage of what it sees as consolidation trends in wealth management. James Gorman, president of Merrill’s global private client group, told investors at a financial services conference that he expects “several transactions in the retail space” over the next two years.
