The acquisition of Pell Rudman, which manages $8 billion in assets belonging to over 550 wealthy clients, is set to close in September, subject to regulatory approval.
The Pell Rudman purchase is the latest in Amvescap’s buying spree that includes:
- its purchase of Canada’s Trimark Financial for £1.2 billion last year
- the acquisition of Britain’s Perpetual PLC in a £1.0 billion takeover the same year
- its acquisition of National Asset Management in April, and
- its plans to purchase County Asset Management, an Australian institutional fund.
For more on Amvescap’s acquisitions see: