MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, December 15, 2020 Will UBStreet or Statesco Be the Next Mega-Merger? A $3-trillion-AUM asset manager with a big ETF business may soon be merging with a rival. State Street Corp. is weighing strategic options for its giant asset management business, State Street Global Advisors (SSGA), Bloomberg reports. The Wall Street Journal adds that State Street hired Goldman Sachs to do the review. Word is that one option on the table is creating an asset management joint venture by merging SSGA with another asset manager: Bloomberg points to UBS's asset management business ($980 billion in AUM as of September 30) and Invesco ($1.294 trillion in AUM as of November 30) as two of the targets considered. Spokespeople for all three companies declined to comment to the publication. Citywire, Reuters, TheStreet, and ThinkAdvisor also picked up on the deal talk. SSGA is a huge institutional asset manager, yet it also runs the third largest ETF business in the U.S. Printed from: MFWire.com/story.asp?s=62262 Copyright 2020, InvestmentWires, Inc. All Rights Reserved |