UMB Financial Corporation has signed a definitive agreement for the acquisition of the assets of Prairie Capital Management LLC, (Prairie) an independent asset management and wealth management firm based in Kansas City, Mo. The transaction is expected to close on July 30, 2010.
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Investment manager and stockbroker Collins Stewart Wealth Management has acquired Andersen Charnley, an independent private client wealth manager.
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Bank of New York Mellon said its wealth management arm will expand into Canada with the acquisition of I(3) Advisors, a Toronto-based firm with C$3.5 billion (US$3.43 billion) in assets.
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The head of Royal Bank of Canada said on Tuesday the bank is mulling acquisitions to build its business, particularly in global wealth management, but does not see a blockbuster U.S. retail banking deal any time soon.
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Formation Group Plc today announced the sale of its wealth management arm as part of a strategy to focus on its property assets.
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Cazenove Capital Management has tied up key Thornhill staff following its acquisition of the smaller private wealth manager.
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Midas Capital is in advanced talks with Jardine Lloyd Thompson about the sale of iimia Wealth Management. The terms agreed in principle with JLT involve the payment of a cash consideration on completion of more than £7.2m, subject to an adjustment based on the completion balance sheet.
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Spain’s Banco Santander SA (STD) has decided to merge its asset management and global private banking operations, with Javier Marin to head the new division, the bank said Tuesday in a press release.
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National Australia Bank Ltd (NAB), the nation’s largest lender has bought Hong Kong wealth manager Calibre Asset Management in a deal it said on Wednesday was worth less than A$5 million ($4.7 million).
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