M and A
Daily News Analysis
24 May 2013
US Wealth Management, a network of wealth managers, has recruited two new independent financial advisory practices to its platform, including Equity Planning and a team of two advisors based in Lehigh Valley, Pennsylvania. The addition brings the firmís total recruited advisory and brokerage client assets to more than $600 million . USWM, which began the year with approximately $350 million of recruited advisory and brokerage client assets, expects to exceed $1 billion in total recruited advisory and brokerage client assets by this time next year.
22 May 2013
Aberdeen Asset Management has completed the deal to buy US-listed Artio Global Investors for a sum of $179. 7 million, based on a price of $2 . 75 per share, following the firmís announcement in February.
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.
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
ZŁrcher Kantonalbank, the biggest Swiss cantonal bank, expects to pay a fine to US authorities as part of a deferred prosecution agreement for its alleged role in helping US citizens evade taxes, media reports said.
24 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