US in the news: Morgan Stanley IM buys investment firm

M & A

Morgan Stanley

The American investment giant has agreed to buy Eaton Vance, a provider of advanced investment strategies and asset management solutions, for a capital value of nearly $ 7 billion ($ 5.41 billion, $ 5.93 billion).

The deal will improve customer capabilities, bringing U.S. retailer Eaton Vances along with Morgan Stanley Investment Managements international distribution.

The acquisition is expected to close in the second quarter of 2021.

Wealth Growth Group

The independent asset management firm has acquired 10-15 Associates, an independent registered investment advisor (RIA) based in Goshen, New York.

The financial terms of the transaction, which is expected to close in the fourth quarter of this year, were not disclosed.

The acquisition follows in the footsteps of the New York State Wealth Improvement Group in six offices.

Founded in 1986 by president and chief executive Deborah DeMatteo, and chief financial officer and managing director Michael DeMatteo, the 10-15 Associated has grown to include 16 employees, including seven financial advisors.

Mercer Global Advisors

RIA has acquired Personal Financial Advisors, a wealth management firm based in Covington, Louisiana.

PFA serves approximately 140 clients with assets under management approximately $ 105 million.

Robert Reed, Jr. and his three-person staff will join the Mercer Advisors team.

The financial terms of the deal were not disclosed.

People move

Pictet Asset Management

Independent European asset managers have opened its first US office in New York City.

The office will be headed by Elizabeth Dillon and will be joined by Mike Acker, chief accountant, Nick Mavro, head of the US institution, and Jorge Corro, chief of the US Navy.

Dillon is returning home to New York after spending 19 years working for Pictet Asset Management in Geneva and London, most recently as chairman of global financial institutions and will be appointed chief executive of Pictet Asset Management (USA).

BNY Mellon Asset Management

The firm has appointed Edward Mora as regional president in Orange County, California.

Most recently, Mora worked for Bank of the West | BNP Paribas Wealth Management as senior vice president and head of the Southern California region.

UBS USA Asset Management

The firm has hired three financial advisors to join its operations in California.

Henry Anthony Hernandez and Robert Magallanes will be based in Irvine, Orange County and Carl Nelson will be based in downtown Los Angeles.

Cumulatively, advisors administer more than $ 400 million in client assets.

RBC Asset Management

The wealth firm has hired Gordon Witherspoon as senior vice president and financial advisor.

He is joined by Morgan Stanley along with senior investment associate Anita Helm.

Alex Brown

Raymond James’s subsidiary has hired financial advisor Reynaldo Figueredo in Miami, Florida.

Figueredo is joined by Deutsche Bank Wealth Management, where he has served as financial advisor for the past 12 years, managing assets for clients in Argentina, Chile and the US

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