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Mergers & Acquisitions

News

Schwab to Buy Boston Investment Manager

Schwab buying ETF specialist Windward Investment Management for $150 million in stock and cash.

Are Deals on the Horizon for Asset Managers?

Despite the fact mergers and acquisitions have gone dormant this year, deals are expected to surge in the next six months.

Is BofA Bailing on its Asset Management Business?

Bank of America is rumored to be considering selling its 34% stake in BlackRock, according to The Wall Street Journal. Now the question is whether the bank is looking to get out of asset management altogether.

Nuveen To Buy FAF Advisors

Combined, the companies will have $200 billion AUM.

Knight to Acquire Astor Asset Management for $20 Million

Knight Capital Group said it agreed to acquire Astor Asset Management, LLC, a money management firm specializing in macro-economic strategy and construction of portfolios of exchange-traded funds. Knight said it would pay roughly $20 million in cash and stock, based on Astor’s assets under management at the close. “Astor Asset Management has undergone rapid growth by providing active management and diversification across sectors and asset classes at a relatively low expense ratio using ETFs,” said Thomas…

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Articles

Wealth Management M&As: Sink or Swim?

As sentiment among wealth managers shifts, more capital has become available and companies right-size, banks, trust companies, wealth managers, and bank brokerages that are in a strong position to expand into a new market and acquire new units, will do so. But it is also the moment when companies without the capital-and stability-will get left behind. "If you can be bold, you can make acquisitions now," said Alois Pirker, research director at Aite Group. "If you're weak to start out, it will be hard to expand."

Companies Wait for Clearer Guidance Before Adopting IFRS

Noting the urgency and immensity of their task, global financial leaders are frantically making small and large changes to U.S. Generally Accepted Accounting Principles (GAAP) and international financial accounting standards (IFRS) to make them more similar, and the Securities and Exchange Commission has recently made a single set of standards a high priority. With more than 100 countries already using the principles-based IFRS, the world is anxiously waiting to get the U.S. on board, but merging the two standards to eliminate their differences has been and will continue to be a monumental task.

Regulators Outline SEC, CFTC Harmonization Plans

Following up on President Obama's mandate for change, regulators at the Securities and Exchange Commission and the Commodity Futures Trading Commission recently crafted a report that details their plans to harmonize the regulation of futures and securities. The 'Joint Report of the SEC and the CFTC on Harmonization of Regulation' offers specific recommendations to improve the cooperation and coordination between the two agencies, strengthen the agencies' oversight and enforcement, and enhance market efficiency and investor protection.

Bank of New York Wealth Unit Looking For Mergers to Grow

Though Bank of New York Mellon Corp.'s wealth management revenue has slumped, the unit's head is touting its resilience and plotting an aggressive strategy through mergers and acquisitions. The business' revenues fell 10%, to $189 million, as of June 30, from a year earlier. But wealthy clients are continuing to invest with BNY Mellon Wealth Management, which has reported net inflows for 14 consecutive quarters.

Ameriprise Buys Columbia From BoA for Up to $1.2B

Bank of America plans to sell its long-term asset management business, Columbia Management, to Ameriprise Financial for as much as $1.2 billion in an all-cash deal. As of June 30, Columbia has $165 billion in assets under management, $93 billion of which was in equity and $72 billion in fixed income. The cash business managed by Columbia is not included in the transaction.

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