The Charles Schwab Corporation Completes Acquisition of TD Ameritrade

Morgan Stanley to Acquire E*TRADE Financial Corporation

February 20, 2020

Financial Services

Morgan Stanley agreed to acquire E*TRADE in an all-stock transaction valued at about $13 billion, with E*TRADE stockholders receiving 1.0432 Morgan Stanley shares per E*TRADE share. The deal expands Morgan Stanley’s Wealth Management scale and digital capabilities by combining its advisor-driven business with E*TRADE’s direct-to-consumer brokerage, digital banking and workplace stock-plan capabilities. The transaction is expected to deliver cost and funding synergies and is subject to customary regulatory and shareholder approvals.

The Charles Schwab Corporation Acquires The Family Wealth Alliance

January 24, 2023

Wealth Management

The Charles Schwab Corporation has acquired The Family Wealth Alliance (FWA), a membership and research organization serving multifamily and single family offices and other family-wealth-focused firms. FWA's leadership team has joined Schwab to expand Schwab's capabilities and resources for advisors and firms serving ultra-high-net-worth clients; financial terms were not disclosed.

Fifth Third Bancorp Completes Merger with Comerica Incorporated

February 2, 2026

Financial Services

Fifth Third Bancorp has closed its merger with Comerica Incorporated, creating the ninth-largest U.S. bank with approximately $294 billion in assets. The combination expands Fifth Third’s geographic footprint and scale—pairing its retail banking and digital capabilities with Comerica’s middle-market banking franchise and wealth capabilities as part of a broader strategy to build density in high-growth U.S. markets.

Victory Capital to Combine Amundi US into Its Platform; Amundi Takes 26.1% Stake

July 9, 2024

Financial Services

Victory Capital has reached a definitive agreement to combine Amundi's US business (formerly Pioneer Investments) into its platform in exchange for Amundi receiving a 26.1% economic stake in Victory Capital. The deal includes reciprocal 15-year distribution agreements, aims to broaden product offerings and global distribution, and is expected to deliver meaningful cost synergies and near-term EPS accretion.

Santander Holdings USA (Banco Santander) Acquires Amherst Pierpont Securities / Pierpont Capital Holdings

July 15, 2021

Financial Services

Santander Holdings USA, part of Banco Santander Group, has agreed to acquire Pierpont Capital Holdings LLC and its operating broker-dealer Amherst Pierpont Securities for approximately $600 million. The acquisition strengthens Santander Corporate & Investment Banking's fixed-income market-making, structured products and self-clearing capabilities while expanding its U.S. institutional client footprint.

TD Bank Group Acquires First Horizon Corporation

February 28, 2022

Financial Services

Toronto-Dominion Bank (TD Bank Group) agreed to acquire First Horizon Corporation in an all-cash transaction valued at US$13.4 billion (US$25.00 per share). The deal creates a top-6 U.S. bank, giving TD immediate scale and presence across the U.S. Southeast while retaining First Horizon's Memphis hub and client-facing bankers.