high-net worth subsidiary is "aggressively seeking" to buy high-net worth shops in 2005, reports Institutional Investor
What is the group's aim? To grow from $3 billion in assets to approximately $9.5 billion in assets, or 10 percent of parent Eaton Vance's $95 billion asset pie, said Westy Saltonstall, president and chief executive officer of the unit.
Ideal targets are firms with owners "looking for an exit strategy," Saltonstall told II
. The business need not be located in New England.
Saltonstall joined Eaton Vance from Deutsche Bank's Scudder Private Investment Counsel in January of 2004, preceding Eaton Vance's acquisition of the $2.5 billion high-net worth business by six months.
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