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  • Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • Janus Capital Group Inc. / Bay Isle Private Client Asset Management division
  • First Republic Bank
  • Wealth Management Firms
  • June 30, 2004
  • $600 Million

Seller Details

Bay Isle was formed in 1986 and currently manages approximately $600 million of assets for high net worth individuals based primarily in California and Hawaii. Bay Isle manages, for individual clients, equities with a value bias and also manages fixed income.

Buyer Details

First Republic Bank is a NYSE-traded commercial bank and wealth management firm. The Bank specializes in providing personalized, relationship-based wealth management services, including private banking, investment management, trust, brokerage and real estate lending. As of March 31, 2004, the Bank had total banking assets and other assets under management and administration of $21.3 billion. First Republic Bank provides its services online and through branch offices in eight major metropolitan areas: San Francisco, the Silicon Valley, Los Angeles, Orange County, San Diego, Santa Barbara, Las Vegas and New York City.

Transaction Summary

Bay Isle Private Asset Management represents an attractive opportunity to expand First Republic's investment advisory business and to partner with a firm that shares its commitment to delivering exceptional service to clients. Bay Isle Private Client Asset Management will become part of Trainer Wortham & Co., one of the nation's oldest independent advisory firms, founded in 1924, currently managing approximately $4.3 billion of equity and fixed income securities.

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