CI Monetary Corp. agreed to amass Segall Bryant & Hamill, the businesses introduced in a joint information launch Monday.
Phrases of the deal weren’t disclosed. As soon as the deal is closed, which an organization spokesman mentioned is anticipated within the second quarter, the addition of SBH is anticipated to double CI’s whole U.S.-based belongings underneath administration to $46.1 billion.
“Buying Segall Bryant & Hamill is a serious step ahead as we proceed our U.S. enlargement,” mentioned Kurt MacAlpine, CEO of Toronto-based CI, within the information launch, including that “the SBH staff will stay intact and be a key driver of CI’s development within the U.S.”
Based in 1994, SBH has $23.1 billion in AUM and has places of work in Chicago, Denver, Philadelphia, St. Louis and Naples, Fla.