The worth of mergers and acquisitions throughout the funding business virtually tripled final 12 months, reaching its highest degree for the reason that international monetary disaster, as intense aggressive pressures spurred the most recent wave of consolidation exercise.
Introduced M&A offers involving asset and wealth managers rose from $13.6bn in 2019 to $38.9bn final 12 months, in accordance with Piper Sandler, the Minneapolis-based funding financial institution that maintains a database with offers and pricing info relationship again to the Nineteen Nineties.
9 offers concerned worth tags of greater than $1bn: Morgan Stanley’s acquisition of Eaton Vance for $7bn and Franklin Templeton’s $4.5bn acquisition of Legg Mason ranked as the 2 largest acquisitions. Piper Sandler additionally included the sale of a $14bn stake in BlackRock by the US financial institution PNC in its 2020 numbers.
Source: Fry Electronics
By Hung crus
