U.S. Bank Completes Acquisition of PFM Asset Management

Mercer Advisors Acquires Private Asset Management, Inc.

August 1, 2023

Financial Services

Mercer Global Advisors, Inc. (Mercer Advisors) acquired Private Asset Management, Inc. (PAM), a San Diego-based wealth management firm that serves over 600 clients with approximately $720 million in AUM. The acquisition strengthens Mercer Advisors' presence and capabilities in California and adds PAM's team and wealth planning, investment management and tax services to Mercer's national RIA and family-office platform.

Creative Planning Acquires Goldman Sachs Personal Financial Management Business

August 28, 2023

Financial Services

Creative Planning, an independent Registered Investment Advisor, has agreed to acquire Goldman Sachs’ Personal Financial Management (PFM) unit. The deal — a divestiture by Goldman Sachs — moves PFM’s advisors and client relationships to Creative Planning and is expected to close in Q4 2023, while preserving access to Goldman Sachs Asset Management solutions through an expanded strategic relationship.

Nomura Acquires Macquarie's U.S. & European Public Asset Management Business

April 22, 2025

Wealth Management

Nomura has agreed to acquire Macquarie Asset Management’s North American and European public asset management business (including equities, fixed income and multi‑asset strategies) in an all‑cash transaction for roughly US$1.8 billion, subject to closing adjustments and regulatory approvals. The business—led from Philadelphia with more than 700 employees and approximately US$180 billion of AUM—will join Nomura’s Investment Management division, and the firms will also enter a broader product and distribution collaboration.

PMA Financial Acquires Miles Capital

January 29, 2020

Financial Services

PMA Financial Network has reached a definitive agreement to acquire substantially all assets of Miles Capital, Inc. from Chairman David Miles and other employee owners and investors. Miles Capital is an independent, SEC-registered investment adviser managing approximately $1.7 billion in AUM; the deal was expected to close in Q1 2020 and terms were not disclosed.

U.S. Bancorp to Acquire MUFG Union Bank’s Core Regional Banking Franchise

September 16, 2022

Financial Services

U.S. Bancorp agreed to acquire MUFG Union Bank's core regional banking franchise from Mitsubishi UFJ Financial Group. The deal is designed to deepen U.S. Bank’s West Coast footprint, expand customer access to technology and services, and includes a five-year $100 billion community benefits plan. U.S. Bancorp has received all required U.S. regulatory approvals and expects to close before the end of 2022, pending Japanese regulatory approval and other closing conditions.

F.L.Putnam Acquires Arbor Capital, Four Ponds Financial Planning, and Ascension Asset Management

July 25, 2024

Financial Services

F.L.Putnam Investment Management Company acquired three independent registered investment advisors — Arbor Capital Management (Amherst, NY), Four Ponds Financial Planning (Mashpee, MA), and Ascension Asset Management (New York, NY) — in transactions that closed June 30, 2024. The deals add more than $1.25 billion of AUM, roughly 10 new advisors, two new offices (Western New York and Cape Cod), and expand F.L.Putnam's financial planning and investment management capabilities across the East Coast.