Reuters reported exclusively that GenSpring Family to buy a European wealth manager
11.22.2010
Reuters reported exclusively on Nov 22 that GenSpring Family Offices LLC, the largest U.S. registered investment adviser, was “in deep conversations” to buy a European wealth manager. The story was picked up by Dow Jones, which did not match it, as well as by several trade publications and websites, including Family Wealth report. GenSpring is aiming to complete the takeover of the unidentified firm by the first quarter of 2011, Santiago Ulloa, president of GenSpring International, said in an interview. The deal would establish a European beachhead for the firm, which caters to the ultra-rich, and would mark its first major foray outside the United States.
