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- Credit Suisse Fully Compliant on Sanctions: CEO
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- Investment Advisor, WCAS Management Corp, To Pay Nearly $800K Over Conflicts of Interest
- Altaba, fka Yahoo!, to Pay $35Mn for Failing to Disclose Massive Cybersecurity Breach - SEC
- SEC Formerly Bars Martin Shkreli from Industry
- HF Billionaire Steve Cohen Buying Into Fintech Start-Ups
- Deutsche Bank Is Weighing Massive Cuts in Its U.S. Cash Equities Unit
- Richard Jenrette, Co-Founder of DLJ Investment Bank, Dies at 89
- Goldman Sachs Makes First Hire in Cryptocurrency Markets Unit
- Special FINRA Election to Fill Large Firm Governor Vacancy
- Chicago-Based Investment Adviser Sentenced to 151 Months in Prison - SEC
- Dun & Bradstreet Hit With FCPA Violations - SEC
- SEC Charges Additional Defendant in Fraudulent ICO Scheme
- Warren Buffett Simply Blew it on Wells Fargo Stock: Dick Bove (Video)
- Barclays and Deutsche Bank to Lag U.S. Trading Peers
- NY AG Schneiderman Seeks to Close Loophole That Could Let Trump Pardons Block State Charges
- 'Fearless Girl' is Moving to NYSE After Year Staring Down 'Charging Bull'
- What's In Your Wallet - American Express Shares Soar After Earnings Release
- Deutsche Bank's Executive Departures Continue Following Change in CEO
- Reflections of an Economist Commissioner (SEC's Piwowar)
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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.