Nuveen Investments, a Chicago money management company, announced Monday that it had agreed to buy Santa Barbara Asset Management. 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. |
-
Founder Jason Wenk discussed the rapid rise of his firm, his plans for AI, a coming Netflix show with a "cool" name and more.
2h ago -
A 26-year-old lawyer in New York City wants to know if they're on track for retirement, but the most important factors aren't always clear. Financial advisors have a few ideas.
2h ago -
Departures from the Swiss banking giant show no signs of letting up in a week that also saw LPL Financial and Elevation Pointe announce big deals.
7h ago -
Chuck Roberts, whose recommendations of structured notes landed the St. Louis firm a nearly $133 million arbitration award, was kicked out of the industry after ceasing to cooperate with a regulatory investigation.
July 17 -
Most athletes run into money problems after their playing days are over, but experienced advisors say that with careful planning, this specialized client base can build financial success for the long run.
July 17 -
Experts say that families often get caught off guard by their loved ones' cognitive decline and it's a crucial component of planning that is frequently left undiscussed.
July 17