iM Global Partner, a Paris, France-based owner of asset management firms internationally that currently manages about $20 billion, has entered into an agreement to acquire Litman Gregory, a Walnut Creek, California-based wealth and asset management firm that manages and oversees $6.2 billion in assets.
Founded in 1987, Litman Gregory has developed a range of mutual funds in addition to managing wealth for individuals and nonprofit organizations.
The acquisition is intended to enhance iM Global’s distribution capabilities in the U.S., the company said in a release.
Toronto-based Bank of Montreal has hired a three-decade veteran from Bank of America to lead its newly combined US operation as one of its top leaders plans to step down.
LPL has closed 56 deals in its succession program, using $690 million of capital, according to William Blair analyst Jeff Schmitt.
The smartest sellers are prioritizing integration support, not just payout multiples, says industry head.
Unequal life expectancy, emotional decision-making, and market swings are rewriting the rules, forcing a rethink on everything from default plans to annuities.
Meanwhile, Wells Fargo reels in a veteran from JPMorgan in Las Vegas, Nevada.
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