M&A Deal Summary

Ameriprise Financial Acquires Columbia Management Investment Advisers

On September 30, 2009, Ameriprise Financial acquired financial services company Columbia Management Investment Advisers from Bank of America for 1.0B USD

Acquisition Highlights
  • This is Ameriprise Financial’s 3rd transaction in the Financial Services sector.
  • This is Ameriprise Financial’s largest (disclosed) transaction.
  • This is Ameriprise Financial’s 3rd transaction in the United States.
  • This is Ameriprise Financial’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2009-09-30
Target Columbia Management Investment Advisers
Sector Financial Services
Buyer(s) Ameriprise Financial
Sellers(s) Bank of America
Deal Type Divestiture
Deal Value 1.0B USD

Target

Columbia Management Investment Advisers

Boston, Massachusetts, United States
website
Columbia Management is a provider of financial asset management products and services. It was formed in 1962.

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Buyer(S) 1

Buyer

Ameriprise Financial

Minneapolis, Minnesota, United States

website


Category Company
Founded 1894
Sector Financial Services
Employees13,500
Revenue 14.3B USD (2022)
DESCRIPTION
Ameriprise Financial's corporate headquarters in downtown Minneapolis, Minnesota.
Ameriprise Financial's corporate headquarters in downtown Minneapolis, Minnesota.

Ameriprise Financial is a diversified financial services company. Ameriprise offers a broad range of products and services designed to achieve the financial objectives of individual and institutional clients. Ameriprise's wealth management capabilities are centered on long-term, personal relationships between clients and financial advisors. Through its advisors, Ameriprise offers financial planning, products and services designed to be used as solutions for clients' cash and liquidity, asset accumulation, income, protection, and estate and wealth transfer needs. Ameriprise's asset management business offers a broad spectrum of investment advice and products to individual, institutional and high-net worth investors. Ameriprise Financial was incorporated in 1894 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 3 of 6
Sector (Financial Services) 3 of 6
Type (Divestiture) 2 of 3
State (Massachusetts) 1 of 1
Country (United States) 3 of 5
Year (2009) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-11-07 J. & W. Seligman

New York, New York, United States

J. & W. Seligman & Co. is an asset management firm. Seligman manages open- and closed-end funds, hedge funds, and institutional accounts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-14 Grail Advisors

San Francisco, California, United States

Grail Advisors LLC was created to deliver ETFs using fully disclosed active portfolio management to the global investment community with a goal to provide best-in-class service.

Buy -

Seller(S) 1

SELLER

Bank of America

Charlotte, North Carolina, United States

website


Category Company
Founded 1784
Sector Financial Services
Employees217,000
Revenue 95.0B USD (2022)
DESCRIPTION
Entrance to Bank of America Center in downtown Charlotte, North Carolina.
Entrance to Bank of America Center in downtown Charlotte, North Carolina.

Bank of America is a financial services institution serving individual consumers, small- and middle-market businesses, institutional investors, large corporations and governments with a full range of banking, investing, asset management and other financial and risk management products and services. Bank of America was incorporated in 1784 and is headquartered in Charlotte, North Carolina.


DEAL STATS #
Overall 3 of 16
Sector (Financial Services) 3 of 15
Type (Divestiture) 3 of 16
State (Massachusetts) 1 of 1
Country (United States) 3 of 14
Year (2009) 1 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-15 Merrill Lynch Wealth Management

New York, New York, United States

Merrill Lynch Wealth Management is the wealth management division of Bank of America. Merrill Lynch is headquartered in New York City and consists of over 15,000 financial advisors and $2.2 trillion in client assets.

Buy $50.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-10-05 Wilshire Credit

Beaverton, Oregon, United States

Wilshire Credit Corp. is a provider of mortgage services.

Sell -