US Provider Buys Wealth Manager

Lachlan Colquhoun

15 January 2007

US financial services provider Marshall & Ilsley will acquire wealth manager North Star Financial Corp for $21 million in stock. Milwaukee-based M&I, with $55.5 billion in assets under management, will integrate North Star, which currently has $1.6 billion in assets, into its current wealth management business. M&I recently opened a wealth management office in Chicago under its own brand, and this will continue to service North Star clients. M&I’s wealth management unit provides trust, asset management, brokerage, and private banking services to individuals, institutions and corporate clients.