Scout Investment Advisors to Acquire Reams Asset Management Company
September 02 2010 - 8:02AM
Business Wire
Scout Investment Advisors (Scout), a subsidiary of UMB Financial
Corporation (NASDAQ: UMBF), has signed a definitive agreement for
the acquisition of substantially all of the assets of Reams Asset
Management Company (Reams), an investment management firm based in
Columbus, Ind. The transaction is expected to close in the fourth
quarter of 2010 and is expected to more than double Scout’s
existing assets under management.
Reams manages more than $9.8 billion in fixed-income assets and
serves a diverse group of institutional clients, including Fortune
500 corporations, large public pension funds, Taft-Hartley plans,
health care organizations and a variety of universities,
foundations and endowments. The Reams organization provides
extensive experience and a core competency in the management of
fixed-income products.
“Fixed-income represents a key strategic growth area in the
institutional asset management business,” said Peter deSilva,
president and chief operating officer, UMB Financial Corp. “The
addition of Reams Asset Management and their expertise in the
fixed-income sector complements Scout’s existing product offerings
and allows us to offer clients a diversified array of top-tier
investment options.”
Following the close of the acquisition, Reams will operate as a
division of Scout Investment Advisors and remain headquartered in
Columbus, Ind. The firm’s leadership team will continue to manage
the business in their current roles and lead the business strategy
for Scout in the fixed-income sector. The investment process and
philosophy guiding the existing strategies will also remain
unchanged.
“Scout recognized Reams’ high quality fixed-income products, the
expertise the company brings to institutional asset management, and
the overall quality of the company’s professional team,” said
Andrew Iseman, chief executive officer of Scout Investment
Advisors. “Both companies share excellent reputations, as well as
similar cultures and management styles, making this an attractive
business combination that will benefit all of our clients.”
“We are excited to join the UMB family as a part of Scout
Investment Advisors,” said Dave McKinney, president of Reams Asset
Management Company. “Over the years, Reams has built a reputation
for expertise in fixed-income investments and this partnership will
bring additional breadth and scale to our organization. Given
recent global economic conditions, institutional clients are
seeking service providers that have a strong parent company like
UMB Financial Corporation. Additionally, with Scout’s expertise in
domestic and international equities, the combined strengths of our
firms will allow us to deliver a comprehensive investment lineup to
the institutional marketplace.”
Berkshire Capital served as exclusive financial advisor to UMB
on this transaction.
About Scout Investment Advisors:
Scout Investment Advisors, Inc., a subsidiary of UMB Financial
Corporation, is a national investment management firm that offers
investment management services for both managed accounts and mutual
funds. Scout Investment Advisors' investment capabilities include
domestic large cap, mid-cap, small cap and fixed income. Scout
Investment Advisors also offers international, international
small/mid-cap and global equity portfolios. Additional information
about Scout Investment Advisors, Inc. and its full line of products
can be found at www.scout-ia.com.
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