There were 49 merger and acquisition deals between asset and wealth managers worth $1.2 billion in the second quarter, according to media reports, citing PwC’s quarterly report on financial services deal-making.
PwC reported 45 deals for the previous quarter and 24 deals for second quarter 2018.
During the second quarter, 29 of the M&A deals involved wealth management firms, 19 involved money managers (12 for traditional firms and seven for alternative specialists) and one deal was for an administrative firm.
The total value of deals dropped in the second quarter due to the absence of megadeals, causing the transaction value to fall to $1.2 billion from $12 billion.
