Boenning & Scattergood, a West Conshohocken, Pennsylvania-based broker-dealer, has acquired Columbus Macro, a boutique asset manager based in Pittsburgh.
Columbus Macro has become a wholly-owned subsidiary of Boenning & Scattergood Advisors, the asset management unit of Boenning & Scattergood, which was founded in 1914. The deal add about $400 million to Boenning & Scattergood's assets under management.
Columbus Macro specializes in active global investing and risk management using multi-asset portfolios, core strategies for specific asset classes, and custom-designed portfolio solutions, Boenning & Scattergood said in a release. Craig Columbus, who founded the firm, will continue as its CEO. He was also named chief investment officer of Boenning & Scattergood Advisors.
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