Samantha Lee/Business Insider
After a wave of asset management deals last year, analysts expect consolidation to continue.
JPMorgan is seeking a deal in the space, and Wells Fargo just sold its asset management arm.
BrightSphere and WisdomTree Investments are among possible takeover targets, analysts say.
Across the asset management industry, where sheer scale and the right range of products reign supreme, firms have long sought out deals. But crushing fee pressure has spurred more aggressive consolidation in the last few months.
After a flurry of combinations in 2020, Wells Fargo said in late February that it would sell its asset management business to private equity firms GTCR and Reverence Capital Partners for $2.1 billion.
A-rated US growth manager to leave Wells Fargo AM
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St Louis-based Wells Fargo Advisors continues to streamline, downsizes regional structure
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Wells Fargo unit sale hailed as opportunity
Nicolaas Marais said the money management unit needs investment to thrive.
Wells Fargo Asset Management s new private equity owners may be just what the business needs to help it achieve scale and compete in the $1 trillion AUM club, industry players say.
Parent company Wells Fargo & Co. announced Feb. 23 it was selling its money management business with $603 billion in assets under management in a $2.1 billion deal to private equity firms GTCR LLC and Reverence Capital Partners. The split between the two firms was not disclosed. The deal followed months of speculation over whether the unit would be sold and to whom, with Goldman Sachs Group Inc. and J.P. Morgan Chase & Co. previously named as potential suitors.