Wintrust Financial will acquire Chicago-based investment manager, Great Lakes Advisors (GLA), which has $2.4 billion in assets under management. The financial details of the transaction have not been disclosed. As per the deal, GLA will merge with Wintrust’s existing asset management business, Wintrust Capital Management. The combined entity will have about $4.5 billion in assets under management. The deal is expected to be closed in the second quarter of 2011.
Click here for the release from Globe Newswire.