MutualFundWire.com: 21 Years Later, an ETF Strategist Regains Its Independence

MutualFundWire.com

The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication

Thursday, October 12, 2023

21 Years Later, an ETF Strategist Regains Its Independence

An ETF strategist and equities shop's team recently regained their independence after 21 years.

William Henry Roach, Jr.
GLOBALT Investments
President, CEO

The folks at GLOBALT Investments LLC have spun the firm out of Synovus Financial Corp., GLOBALT president William Roach, Jr. and Synovus president and CEO Kevin Blair confirmed on October 2. Atlanta-based GLOBALT is now 100-percent owned and operated by its employees, Roach confirms. The firm has a team of 19 and has nearly $3 billion in AUM, managing SMAs and model portfolios built out of bonds, stocks, and ETFs.

Pricing and terms of the GLOBALT spinoff have not been publicly disclosed. The deal closed on September 30.

After the deal, chief investment officer Gary Fullam, chief operating officer Drake Craig, and Roach will continue to lead GLOBALT, Roach confirms. He notes that the deal puts GLOBALT's "ownership in the hands of every employee" and that the firm is "now minority-owned [with] a significant representation of female owners."

"Diversity has been and continues to be a defining pillar of the organization, and ownership reflects that commitment," Roach tells MFWire via email. "The ownership structure includes 11 African Americans and 10 women as of the close of this deal."

"We will continue to work closely with Synovus to service our mutual clients at a high level," Roach writes. "This transition will allow us to pursue additional partners as we continue to grow our clinetele."

GLOBALT launched in 1990 and registered as an RIA the next year. Synovus bought GLOBALT in 2002, around the same time that GLOBALT became an ETF strategist with the launch of their innovatETF portfolios. They added an ESG strategy in 2015.

"The current market environment and recent events have led to increased scrutiny on regional banks which impacts investment management firms to a lesser extent," Roach writes. "This transaction allows both firms to focus on their core business and their own specific initiatives independently."

"We believe GLOBALT has a strong future as an independent investment advisor, enabled to explore a wide range of additional partners and potential client relationships," states Blair, who also serves as Synovus' chairman. "Our working relationship with the GLOBALT team provided valuable expertise to our clients, and we look forward to our continued partnership and their success."

Printed from: MFWire.com/story.asp?s=66551

Copyright 2023, InvestmentWires, Inc.
All Rights Reserved