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Article: Jefferies Putnam Lovell Expects 2009 Global Asset Management M&A Activity to Be Paced by Divestitures, Distressed Sales.(Company rankings)
- Article from:
- Business Wire
- Article date:
- January 12, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Sizable asset management transactions, largely absent in 2008, are likely to reappear in 2009, driven by distressed selling of investment divisions by commercial banks and insurers, consolidation among alternative firms, and opportunistic buying by financial players that are emerging with fewer wounds from a historic and ongoing global credit crisis, according to Jefferies Putnam Lovell, the investment banking group of Jefferies & Company, Inc. focused on the asset management and financial technology industries.
When ranked by number of deals, 2008 was the second most-active year on record in the global asset management industry, 217 compared with 242 ...
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