US asset manager Raymond James Financial and its branch Carillon Tower Advisers have completed the acquisition of Scout Investments and of its Reams Asset Management division from UMB Financial.
According to the terms of the transaction, Scout Investments will become a subsidiary of Carillon Tower Advisers, joining other managers like Eagle Asset Management, ClariVest Asset Management and Cougar Global Investments.
Scout Investments, together with its Reams AM division, combined $27bn (€23bn) of assets under management and advisory, as of 30 September 2017.
Reams is focused on institutional fixed income while Scout remains an equity asset manager. Carillon Tower Advisers will market Scout and Reams investment vehicles worldwide.
Raymond James Financial’s total client assets reached $693bn (€590.3bn).