Money Management Executive

Nuveen Plans to Buy Calif. Asset Manager

Published August 03, 2005, 1:00 a.m. EDT

|

Updated August 03, 2005, 1:00 a.m. EDT

1 Min Read

Nuveen Investments, a Chicago money management company, announced Monday that it had agreed to buy Santa Barbara Asset Management.

Processing Content

Santa Barbara, which has $2.8 billion of assets under management, specializes in managing growth stock portfolios for institutions and high-net-worth investors.

Nuveen is to pay $50 million of initial consideration in cash for Santa Barbara, whose assets under management have doubled in the past two years. The California company's research and investment team will continue to operate independently and expand its investment platform and team over time. The deal is expected to close within 60 days.

Nuveen manages $124 billion of assets.

For reprint and licensing requests for this article, click here.

Money Management Executive

MORE FROM FINANCIAL PLANNING

Charter conversions

UBS gets OCC approval for national bank charter

Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.

By Kate Berry
Reporter

March 20
Practice and client management

How advisors can help women clients build confidence

Women often feel talked down to when it comes to financial matters. Advisors with experience serving women clients say the industry has a lot of work to do to change this.

By Rob Burgess
Reporter

March 20
Industry News

LPL to triple CEO pay, but Steinmeier still trails peers

LPL's board proposed a huge boost to CEO Rich Steinmeier's compensation package following a year defined by the firm's acquisition of Commonwealth Financial Network.

By Dan Shaw
Reporter

March 20
Retirement

Long-term care costs outpacing retirement income: AARP

Middle- and lower-income retirees face a growing gap between income and long-term care expenses, forcing advisors to rethink planning strategies.

By Elijah Nicholson-Messmer
Data Reporter

March 20
Portfolio management

After notable victories, anti-DEI shareholders turn sights on Trump's SEC

The National Legal and Policy Center has successfully urged companies like Goldman Sachs and American Express to remove DEI from their board selection process, but now it argues that SEC actions are restricting shareholder rights too much.

By Tobias Salinger
Chief Correspondent

March 20
Regulation and compliance

After training her replacement, ex-Carson Group employee files age bias suit

Andrea Bethune contends in federal court that Carson Group moved her into a new role to make way for a woman 20 years her junior. Eventually, her position was eliminated.

By Dan Shaw
Reporter

March 19