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- State Street Challenging BNY Mellon As Largest Custody Bank
- Changes to FINRA Advisory Committees: Phase 1
- SEC Approves CAT Fee Dispute Resolution Process
- Boston-Area Consultant & Friend Settle SEC Insider Trading Charges
- SEC Chair Clayton: Statement on Status of the Consolidated Audit Trail ('CAT')
- Goldman to Launch $5bn Fund with China Investment Corp.
- Wells Fargo Launches Robo-Adviser Targeting Millenial Investors
- Barclays Fails to End U.S. 'Dark Pool' Class Action
- Goldman Sachs' Chief Risk Officer, Craig Broderick, to Retire
- Time to Renew FINRA Registrations - B/D, IA, Agent, IA Rep, Branches
- New Jersey’s Next Governor Could Be a Democrat Who Worked at Goldman Sachs
- FINRA New York Region Networking Seminar - December 1st
- SEC Approves “Pay-to-Play” and Related Rules for Capital Acquisition Brokers
- Hedge Fund Giant Paul Singer Targeted for Destruction by Steve Bannon
- Saudi Arabia's arrest of Prince Alwaleed 'would be like arresting Warren Buffett or Bill Gates' in the US
- Arrest of Billionaire Saudi Prince Touches Sizable Stakes - Citigroup, Twitter, Lyft
- New York Fed President William Dudley set to announce retirement
- FINRA Arbitration Panel Rules Against ex-LPL Broker in $30Mn Lawsuit vs. Firm
- OOPS! Goldman, JPMorgan, BofA Fail in Pricing an IPO
- Former Merrill Broker Pleads Guilty to Fee Fraud, Faces Up To 25 Years
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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.