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- Deutsche Bank ‘Beyond Repair’ as Trading Drops - Autonomous Research
- Guggenheim Partners CEO Might Step Down
- Wachovia Customer Sues Wells Fargo Over FundSource Losses - Bill Singer
- Credit Downgrade for Wells Fargo Due to Fake Account Scandal
- CFTC Commissioner Quintenz Named Sponsor of the Technology Advisory Committee
- Harbour and Geneos Customers Win FINRA Arbitration Against Stockbroker - Bill Singer
- Equifax Suffered a Hack Almost Five Months Earlier Than the Date It Disclosed
- The World’s Biggest Wealth Fund Hits $1 Trillion
- At Jefferies, Like Wall Street, Trading Cedes to Banking
- Ex-SAC Trader Who Pleaded Guilty to Insider Trading Just Remembered He’s Innocent
- JPMorgan Turns to Amazon for Retail 'Customer Experience'
- Goldman Sachs Names Ken Hitchner as New Chairman for Asia Pacific
- Judge All but Tosses SEC Case Against ‘Rogue’ Trader And Ex-FBI Informant Guy Gentile
- 'Boys are #1 Among NFL's Most Valuable Teams
- Fake Tax Returns - Your Next Worry After the Equifax Breach
- FINRA DR Recruiting Arbitrators, Mediators at Congressional Black Caucus Conference
- JPMORGAN: Here's who we think will replace Warren Buffett at Berkshire Hathaway
- Mueller to Search Facebook for Russia-Linked Accounts
- Mark Gomes, Market Analyst and Trade Scalper Settles with SEC
- Equifax Waives Credit Lock Fees For Consumers, Amid Criticism
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NEWSLETTERS & ALERTS
Raymond James Buys Advisers from UMB Financial
Raymond James Financial continued its expansion into the asset management business, has agreed to buy Scout Investments and Reams Asset Management from UMB Financial in a deal valued at $173 million.
Scout is an equities investment manager based in Kansas City, MO, while Reams - Scout's fixed income division - is based in Columbus, IN. The 2 businesses, which have about $27 billion in assets under management, will become wholly-owned subs of Carillon Tower Advisers.
Carillon Tower Advisers, a unit of Raymond James is a global asset-management firm supporting autonomous boutiques spanning investment disciplines and asset classes, each with a focus on risk-adjusted returns and alpha generation.
According to Bloomberg News, CEO Paul Reilly has been on an acquisition binge as the brokerage seeks to expand outside the U.S. and build out its asset-management business. In the past year, Raymond James has agreed to buy Montreal-based wealth manager MacDougall MacDougall & MacTier Inc. and the U.S. private client unit of Deutsche Bank AG.