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Investors Brace for M&A Wave Slashing Asset Managers by a Third
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ECHELON RIA M&A Deal Report™
Industries Asset Management. Alternative Investments Delivering an exceptional client experience. Social media twitter. This has created a challenging environment where banks and asset managers struggle to gain the scale they need to manage an increasing cost base across higher levels of assets under management and thus increase their overall profitability.
LourdMurray and Delphi Merger May Be Model for Future Deals
If you do opt for a purchase or sale, how do you squeeze the most value out of it? In this report, we explore opportunities for digital upskilling across Financial Services sectors and in different regions across the globe. We explain how In April this year, the European Parliament voted to adopt a new directive and a new regulation with regard to cross-border distribution of alternative Christoph Baertz.
All rights reserved. Please see www. In the ongoing process of consolidation sweeping the industry in Switzerland and the rest of the world, wealth and asset managers have to be alert.
In this blog post we survey the global consolidation scene and give some pointers to help wealth and asset managers — in Switzerland, but elsewhere too — navigate mergers and acquisitions smoothly and profitably should the occasion arise. Figure 1: Deal count in key wealth and asset management markets from to Sources: PwC Analysis; Mergermarket.
This has led to a struggle to strengthen local presence in markets abroad, particularly in the Asia-Pacific region, by means of acquisitions. The result has been a number of significant transactions where global private banks have acquired wealth and asset managers in Singapore, Hong Kong and other hubs. Increasing prices: Probably the most useful multiple when it comes to valuing a private bank is the goodwill to assets under management AuM ratio.
Since , we at PwC have observed an increase in goodwill paid relative to assets under management. In other words, transactions are getting pricier for the buyer.
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In Switzerland, we measured an average goodwill to AuM ratio of 1. In other words, buyers are willing to pay a premium for portfolios of certain types of mandate or more profitable clients. This development is particularly noticeable in asset deals as opposed to share deals.
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Concentration: Overall, continuous consolidation can be observed in major global wealth and asset management hubs. Most often, smaller players in Switzerland, foreign bank subsidiaries in particular sell their business to competitors or to larger players that are actively consolidating the market.
What are the macro- and microeconomic drivers driving consolidation in the sector?