Wintrust to Expand its Investment Management Business, Enters into Agreement to Acquire North American Asset Management Units from Rothschild & Co

Investment Management
15.11.2022 09:20 am

Wintrust Financial Corporation (“Wintrust”) and Rothschild & Co announced they have entered into an agreement for Wintrust to acquire two asset management businesses from Rothschild & Co North America Inc. Wintrust’s subsidiary, Great Lakes Advisors, LLC, agreed to purchase Rothschild & Co Asset Management US Inc. and Rothschild & Co Risk Based Investments LLC (collectively, “Rothschild & Co Asset Management U.S.”), investment managers with approximately $8 billion in assets under management specializing in equity investment strategies for institutional, intermediary and other clients. Upon completion of the transaction, Rothschild & Co Asset Management U.S. will merge into and operate the business as Great Lakes Advisors, LLC.

Edward J. Wehmer, Founder and CEO of Wintrust, commented on the pending transaction: “We have been very pleased with the growth in our wealth and investment management businesses at Wintrust. The addition of Rothschild & Co Asset Management U.S. to our team at Great Lakes Advisors 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. We are thrilled to welcome the Rothschild & Co Asset Management U.S. team with its excellent reputation in the industry and an investment approach that aligns so well with our own core principles.”

Francois Perol, Managing Partner of Rothschild & Co, said: “We are delighted to have executed this agreement. Great Lakes will be an excellent home for our clients and our colleagues, and we wish them every success. As far as Wealth and Asset Management is concerned, we will focus our efforts on our rapidly growing European business. Our Global Advisory and Merchant Banking business will continue to expand in North America and across the globe.”

Terms of the Transaction
The terms of the transaction are not being disclosed. The transaction is expected to be completed early in the first quarter of 2023, subject to certain closing conditions.