Financial institutions M&A sector trends: asset/wealth management — H2 2019 and outlook for 2020
Industry consolidation continues at pace. Rigorous fee transparency requirements under MiFID II, rising operating costs and growing competition from WealthTech/robo-advisers are forcing managers to combine.
Sustained high levels of consolidation activity as managers continue to experience the effects of MiFID II. Online wealth management services and robo-advisory are unlikely to be hugely value-accretive in the short term.
We have helped clients navigate some of the more complex legal, regulatory and practical considerations that have driven consolidation in asset/wealth management sector, in the wake of MiFID II. We proactively identify the relevant issues to mitigate potential concerns and galvanise deal synergies. Here are six key things to consider:
Purchase price mechanics can be complex, time-consuming to negotiate and materially impact the transaction process. Key considerations include:
Profits across Western Europe's €6 trillion private banking sector fell 8% to €13.5 billion in 2018 from €15.4 billion in 2017, the most since the global financial crisis (FT–September 2019)
White & Case represented Amwal LLC, one of Qatar's leading asset managers, in the transfer of certain investment management funds and mandates to Aventicum Capital Management, an asset management business controlled by Credit Suisse
White & Case represented Houlihan Lokey, financial adviser to private equity investor Epiris, on Epiris' public offer for IFG Group