M&A Deal Summary |
|
|---|---|
| Date | 2007-11-20 |
| Target | U.S. Trust |
| Sector | Financial Services |
| Buyer(s) | Bank of America |
| Sellers(s) | Charles Schwab |
| Deal Type | Divestiture |
| Deal Value | 3.3B USD |
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| Category | Company |
|---|---|
| Founded | 1784 |
| Sector | Financial Services |
| Employees | 217,000 |
| Revenue | 95.0B USD (2022) |
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 | 8 of 12 |
| Sector (Financial Services) | 7 of 9 |
| Type (Divestiture) | 3 of 3 |
| State (New York) | 1 of 2 |
| Country (United States) | 8 of 11 |
| Year (2007) | 3 of 3 |
| Size (of disclosed) | 6 of 7 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2007-04-26 |
Reverse Mortgage Business - Seattle Mortgage
United States Reverse Mortgage Business has a loan portfolio of 40,000 reverse mortgages, totaling over $4 billion in outstanding balances. Approximately 400 Seattle Mortgage associates will join Bank of America, including a retail sales force of more than 200 sales associates in 25 states and the District of Columbia. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2008-01-11 |
Countrywide Financial
Calabasas, California, United States Countrywide Financial Corp. is a diversified financial services provider. Countrywide originates, purchases, securitizes, sells, and services residential and commercial loans; provides loan closing services such as credit reports, appraisals and flood determinations. |
Buy | $4.0B |
| Category | Company |
|---|---|
| Founded | 1971 |
| Sector | Financial Services |
| Employees | 32,000 |
| Revenue | 20.8B USD (2022) |
Charles Schwab engages in securities brokerage, banking, money management, and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments, Investor Services and Institutional Services. The Investor Services segment provides retail brokerage and banking services to individual investors. The Institutional Services segment provides custodial, trading, and support services to independent investment advisors. The Institutional Services segment also provides retirement plan services, specialty brokerage services, and mutual fund clearing services. Charles Schwab was founded in 1971 and is based in Westlake, Texas.
| DEAL STATS | # |
|---|---|
| Overall | 3 of 4 |
| Sector (Financial Services) | 3 of 3 |
| Type (Divestiture) | 2 of 3 |
| State (New York) | 1 of 1 |
| Country (United States) | 3 of 4 |
| Year (2007) | 1 of 1 |
| Size (of disclosed) | 1 of 2 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2007-04-02 |
Schwab Retirement Plan Services
Austin, Texas, United States Schwab Retirement Plan Services Co. is a provider of mid-size and large retirement plans. |
Buy | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2010-08-30 |
Windward Investment Management
Boston, Massachusetts, United States Windward Investment Management Inc. is an investment advisory firm serving individuals, trusts, retirement plans, foundations and endowments. |
Buy | $150M |
