Deals & People September 2, 2010

New CIO Joins SageView Team

Richard Palmer begins today as the Chief Investment Officer at the SageView Advisory Group based in Irvine, California.
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Palmer will be coordinating with SageView’s Investment Committee on asset allocations for retirement plans, institutional, and individual clients.  

“We intend not only to maintain, but also to grow, our investment expertise across traditional and alternative asset classes,” says Palmer. “Using our broad knowledge of asset-liability matching and our extensive client engagements for institutions and individuals, we intend to remain a valued investment adviser to our clients across a broad array of assignments.” 

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Palmer has worked in the financial services industry for 25 years, including 10 years with Pacific Investment Management Company (PIMCO) and more recently as a senior member of Aspiriant, LLC’s, Investment Committee as Director of Investment Advisory Services.   

Deals & People September 2, 2010

Scout Picks Up Indiana Fixed-Income Shop

Scout Investment Advisors, a subsidiary of UMB Financial Corporation, has agreed to acquire Reams Asset Management Company, an investment management firm specializing in fixed-income products.
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A news release said the transaction is expected to close in the fourth quarter of 2010 and to more than double Scout’s existing assets under management. The combined assets under management are expected to be more than $18 billion.

According to the announcement, Reams, based in Columbus, Indiana, manages more than $9.8 billion in fixed-income assets and serves a group of institutional clients, including Fortune 500 corporations, large public pension funds, Taft-Hartley plans, health care organizations, and a variety of universities, foundations, and endowments.

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“Fixed-income represents a key strategic growth area in the institutional asset management business,” said Peter deSilva, president and chief operating officer, UMB Financial Corp., in the announcement. “The addition of Reams Asset Management and their expertise in the fixed-income sector complements Scout’s existing product offerings and allows us to offer clients a diversified array of top-tier investment options.”

The news release said Reams will operate as a division of Scout Investment Advisors and remain headquartered in Columbus.  The firm’s leadership team will continue to manage the business in their current roles and the investment process and philosophy guiding the existing strategies will also remain unchanged.

 

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