Financial Results
Atlantic Trust AuM Hits $25 Billion After Acquisition By CIBC
Atlantic Trust, the US private wealth management firm which was bought by CIBC earlier this year, reached a record $25.4 billion in assets under management at July 31, 2014, up $1 billion from the previous quarter.
Atlantic Trust, the US private wealth management firm which was bought by CIBC earlier this year, reached a record $25.4 billion in assets under management at July 31, 2014, up $1 billion from the previous quarter.
The firm said the net inflows reflect a “healthy blend of approximately 40 per cent net client additions and 60 per cent new client relationships, typically referrals...”
In the fiscal year-to-date, the firm has made 26 hires including 11 at the vice president level or above and 10 client relationship managers across Atlanta, GA, Boston, MA, Chicago, IL, Denver, CO, Houston, TX, and New York.
Toronto- and New York-listed Canadian Imperial Bank of Commerce bought Atlantic Trust Private Wealth Management from Invesco for $210 million in January this year (see more here).
