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Mergers & Acquisitions

News

AMG Earns $24.6 Million, Buys Majority Stake in Artemis

Fortis Bank previously had a majority interest in Artemis.

Carnegie Separates Asset Management Ops

Swedish-based institution will transfer ownership to Altor and Bure.

Merrill Veteran to Lead JHS Capital Advisors

New firm is seeking experienced advisors.

BNY Mellon Buys Portsmouth

Acquisition of structured credit modeling company will provide clients with greater transparency, firm says.

Neuberger Berman Buys Private Equity Portfolio

$200 million purchase will add high-quality diversification.

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Articles

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.

Politics Could Slow Risk Control Overhaul

NEW YORK - Regulatory officials are pondering significant changes to the way the U.S. oversees financial markets in the wake of last year's credit crisis and the failure to prevent Bernard Madoff's massive Ponzi scheme, but lawmakers will have to make some hard choices before any real changes can happen. Financial industry experts blame these failures on the way regulatory agencies operate in silos and fail to share vital information.

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