The Bank Slate


Wintrust to buy two asset management firms

Wintrust Financial in Rosemont, Ill., has agreed to buy two asset management businesses from Rothschild & Co North America.

The $52 billion-asset Wintrust said in a press release that its Great Lakes Advisors unit will buy Rothschild & Co Asset Management US and Rothschild & Co Risk Based Investments. The deals are expected to close in the first quarter.

The price wasn’t disclosed.

The businesses, which have about $8 billion of assets under management, specialize in equity investment strategies for institutional, intermediary and other clients.

“We have been very pleased with the growth in our wealth and investment management businesses,” Edward Wehmer, Wintrust’s CEO, said in the release.

The acquisitions “will bring further scale, capabilities, and investment talent to the organization as it strives to deliver superior investment strategies to its growing institutional, intermediary, and private wealth clients,” Wehmer added.

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