Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Two Asset Management Deals That Weren't Not Rated 5.0 Email Routing List Email & Route  Print Print
Tuesday, April 23, 2019

Two Asset Management Deals That Weren't

News summary by MFWire's editors

A niche asset management acquisition is falling through, and it looks a big asset management divestment isn't in the cards either.

David C. Brown
Victory Capital Holdings, Inc.
Chairman, CEO
Victory Capital Management will no longer be acquiring Harvest Volatility Management, Victory CEO David Brown confirmed yesterday after the market closed. Brown also confirmed that a much bigger deal, Victory's planned acquisition of USAA Asset Management Company, is on track to close on July 1.

The Victory team blames "recent adverse market conditions" hitting Harvey's biggest strategy as the reason for the collapse of the deal, which was initially unveiled last September. (When the deal was first unveiled, Harvest had about $12 billion in AUM.)

Meanwhile, it sounds like a beleaguered, publicly traded, multinational banking giant is not going to be exiting the asset management business any time soon. Jonathan Weiss, senior executive vice president and head of Wells Fargo's wealth and investment management division, tells Pensions & Investments that, though the bank is selling its retirement plan recordkeeping business, it's standing by Wells Fargo Asset Management.

"There's a lot of reasons that we like the business and we're not looking to sell it," Weiss tells the publication. "We think it has scale. We think it has synergies with the rest of our wealth business."

"It's an intellectual capital business, and we like that," Weiss adds. "It's profitable." 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

5.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2021: Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. MFDF webinar - Gamification of Securities Trading: Fad or the Future?, April 14
  2. IDC Speaker Series - Diversity, Inclusion, and Implicit Bias: An Interview with Song Richardson, April 14
  3. IDC Virtual Roundtable: New Jersey and Pennsylvania - April 2021, April 15
  4. MFDF In Focus: Board Oversight of Sub-advisers, April 15
  5. The 31st Sub-Advised Funds Forum, Apr 20-21
  6. ETF.com Awards 2020, April 20
  7. IDC Virtual Roundtable: Florida - April 2021, April 20
  8. IMEA Marketing Council Roundtable | Engaging Advisors In a Virtual World, April 21
  9. MFDF Director Discussion Series - Open Forum via Zoom (Northeast), April 21
  10. FIASI virtual event - ESG in Fixed Income: Shining a Light on Transparency, Apr 22-23
  11. IDC Virtual Roundtable: Alabama, Georgia, North Carolina, and South Carolina - April 2021, April 22
  12. IDC Webinar: The Future of the Workplace - April 2021, April 23
  13. IDC Virtual Roundtable: Arkansas, Louisiana, Mississippi, Oklahoma, Tennessee, and Texas - April 2021, April 27
  14. MFDF Case Studies in Fund Oversight — A Virtual Roundtable for Directors, Apr 28-29
  15. IDC Virtual Roundtable: Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota - April 2021, April 29
  16. 44th Annual AIMSE Marketing & Sales Conference, May 2-4
  17. MFDF Director Discussion Series - Open Forum via Zoom (Southeast), May 5
  18. ICI 2021 General Membership Meeting - Day 1, May 6
  19. Emerging Manager Forum USA, May 12-14
  20. ICI 2021 General Membership Meeting - Day 2, May 13
  21. 2021 FINRA Annual Conference, May 18-20
  22. IDC Speaker Series - Abby Joseph Cohen: A Conversation About the State of the Global Markets, May 19
  23. 2nd annual ETFGI Global ETFs Insights Summit - USA, May 19-20
  24. MFDF Director Discussion Series - Open Forum via Zoom, May 19
  25. Irish Funds Online Annual Global Funds Conference 2021, May 19-20
  26. MFDF webinar - Fund Director Compensation: MPI Annual Survey (2021), May 20




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use