Principal Global Investors, LLC has announced a definitive agreement to acquire Morley Financial Services, Inc., a stable value asset manager with over $14.0 billion in institutional assets under management, from Nationwide Mutual Insurance Company.
Deals & People
UBS Global Asset Management today announced the formation of the Defined Contribution and Retirement Solutions Group, established to help today’s defined contribution plans better meet the needs of tomorrow’s retirees.
BlackRock, Inc. has entered into an agreement under which it will acquire the fund of funds business of Quellos Group, LLC for up to $1.7 billion.
Nuveen Investments has agreed to be acquired by an investor group majority-led by Chicago-based Madison Dearborn Partners, LLC (MDP).
Chicago-based investment consulting firm Clark Strategic Advisors, Inc. (“CSA″) has become Stratford Advisory Group, Inc.
Aurora, Illinois-based Sikich LLP has announced the formation of a new subsidiary, Sikich Retirement Plan Services LLC.
Ceridian Corp., which last month agreed to be bought by private equity firm Thomas H. Lee Partners and Fidelity National Financial Inc., said on Wednesday it would be prepared to consider other plans to be purchased.
Mercer announced Wednesday that Barbara Marder has been appointed Global Defined Contribution Consulting Leader at Mercer, effective immediately.
Rydex Investments, manager of mutual and exchange-traded funds (ETFs), is near a deal to sell itself for about $800 million to $1 billion, according to TheStreet.com.
Investment Technology Group, Inc. (ITG) has entered into a definitive agreement to acquire privately held RedSky Financial, LLC.
Yesterday, Wachovia announced plans to double its private banking unit by 2010.
Ann Arbor-based independent broker/dealer Sigma Financial Corporation says May was the firm’s second straight record month in terms of revenues.
A new organization, called the Council of Independent 401(k) Recordkeepers (CIKR), has formed to educate and advocate on issues of relevance to independent 401(k) plan recordkeepers.
Human resources outsourcer Ceridian Corp., under pressure from an activist hedge fund, agreed to be bought by private equity firm Thomas H. Lee Partners and Fidelity National Financial Inc.
Wachovia and A.G. Edwards announced Thursday that Wachovia will buy A.G. Edwards for $6.8 billion in cash and stock.
Bear Stearns' Investment Advisor Services (IAS) has hired Christian Widen, a managing director with 11 years of financial services experience, to be part of the company’s IAS east coast sales team.
M Financial Group says that Corrigan&Company has become a Provisional Member Firm.
The Online 401(k) announced partnerships with Back Bay Financial and Tribeca Financial, providing small business clients of these firms access to an independent 401(k) solution, with no hidden fees.
BenefitStreet Inc. will offer Barclays Global Investors’ iShares exchange-traded funds (ETFs) via a new 401(k) platform.
MassMutual Retirement Services has two new Managing Directors of Institutional Sales, effective May 1.