M and A
Daily News Analysis
16 May 2013
Citigroup is selling its consumer finance units to Brazilís Banco Itaķ Unibanco for R$2. 77 billion (around $1 . 37 billion), subject to regulatory approval.
14 May 2013
Boston Private Bank & Trust has sold its Seattle, Bellevue and Redmond offices to Spokane, WA-based Sterling Financial Corporation. Together, the branches have some $276 million in performing loans and $172 million in deposits . Financial details of the transaction were not disclosed.
13 May 2013
Los Angeles, CA-based Ares Management, the global alternative asset manager and SEC-registered investment advisor, is acquiring AREA Property Partners, a New York-based real estate management firm investing across North America, Europe and India. The transaction includes the acquisition of the minority stake in AREA held by National Australia Bank . Terms of the transaction were not disclosed a.
6 May 2013
The first quarter of this year saw 13 M&A deals take place in the RIA industry, accounting for $5. 8 billion in assets under management, according to new data from Schwab Advisor Services . Over the quarter, RIA firms displayed an appetite for acquiring other RIAs, with these kinds of deals accounting for 54 per cent of all transactions closed in Q1.
2 May 2013
Ruston, LA-based Argent Financial Group has acquired Greenville, SC-based East Broad Trust Company, widening its geographical reach and expanding its trust administration and wealth management services. The newly-combined firm will operate in South Carolina under the brand name Argent Trust . Despite the brand change for the acquired firm, East Broad Trust Company will retain its management team, led by Jordan Earle and Steve Fisher.
11 April 2012
Firms originating in Silicon Valley are bringing their technological expertise to bear on wealth management services in a bid to make these more widely available at lower cost: should the industry be wary or encouraged?
21 February 2012
LPL Investment Holdings is prepared to pour money into Fortigent - even if it means forgoing profits for several years - in order to eventually accelerate revenues and establish market leadership, LPL chief executive Mark Casady told Family Wealth Report.
17 February 2012
Fortigentís top management isnít going anywhere as a result of its impending acquisition by LPL, the wealth management outsourcing firmís president and chief executive Andrew Putterman reassured clients gathered yesterday in Savannah, GA.
2 February 2012
Rosalyn Breedy, of Breedy Henderson Solicitors, continues her survey of the regulatory landscape for family offices and considers whether private investors will be better protected under regimes such as Dodd-Frank and the AIFMD, with a focus on developments in the UK and Cayman Islands.
20 January 2012
A new type of firm, created by financial services veteran Doug Black, is looking to sort the wheat from the chaff when it comes to ultra high net worth wealth management.
News and Features
Comment and Analysis
US Trust has identified a ďdisconnectĒ between goals and proactive wealth planning on a number of concerns including health, retirement, succession and life values.
21 May 2013
Here Diane Harrison, principal and owner of Panegyric Marketing, argues that the debate over fees in the hedge fund industry often focuses on the wrong topics.
20 March 2013
Here, Jimmy Chang, a senior portfolio manager and a managing director of Rockefeller & Co, discusses some issues around investing in the current environment.
4 April 2013
The period between 2008 and 2012 saw an uptick in risk reviewing business at New Yorkís Rothstein Kass Family Offices Group, says partner Evan Jehle.
9 April 2013
Building functionality into a familyís business affairs involves defining each personís role but itís never easy to think differently about family members who were children at the dinner table, but are now adults around the board table.
8 April 2013
Marc Odo, director of research at software and business intelligence firm Informa Investment Solutions, discusses why diversification failed during the credit crisis.
25 March 2013