M&A Deal Summary

American Express Acquires Threadneedle Asset Management Holdings

On October 1, 2003, American Express acquired financial services company Threadneedle Asset Management Holdings from Zurich Insurance for 340M GBP

Acquisition Highlights
  • This is American Express’ 2nd transaction in the Financial Services sector.
  • This is American Express’ largest (disclosed) transaction.
  • This is American Express’ 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2003-10-01
Target Threadneedle Asset Management Holdings
Sector Financial Services
Buyer(s) American Express
Sellers(s) Zurich Insurance
Deal Type Divestiture
Deal Value 340M GBP

Target

Threadneedle Asset Management Holdings

Essex, United Kingdom
Threadneedle Investments is a leading active investment manager with a strong track record of outperformance across asset classes. Our investment approach is active, client-focused and performance driven.

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Buyer(S) 1

Buyer

American Express

New York, New York, United States
Category Company
Founded 1850
Sector Financial Services
Employees74,600
Revenue 60.4B USD (2023)
DESCRIPTION
American Express' regional offices in downtown Sydney, Australia.
American Express' regional offices in downtown Sydney, Australia.

American Express is a global financial services company offering payment and credit services to consumers and businesses. The Company's principal products and services are charge and credit payment card products and travel-related services. American Express was incorporated in 1850 and is based in New York City.

DEAL STATS #
Overall 2 of 18
Sector (Financial Services) 2 of 5
Type (Divestiture) 1 of 3
Country (United Kingdom) 1 of 2
Year (2003) 1 of 1
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1992-01-01 First Data

Atlanta, Georgia, United States

First Data is a provider of electronic commerce and payment solutions for merchants, financial institutions and card issuers. First Data was formed in 1989 and is based in Atlanta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-01 American Express Tax & Business Services

Minneapolis, Minnesota, United States

American Express' Tax and Business Services Division is an accounting practice serving mid-sized businesses.

Sell $220M

Seller(S) 1

SELLER

Zurich Insurance

Zurich, Switzerland
Category Company
Founded 1872
Sector Insurance
Employees60,000
Revenue 70.0B USD (2023)
DESCRIPTION
Entrance to Zurich Insurance's headquarters in Zurich, Switzerland.
Entrance to Zurich Insurance's headquarters in Zurich, Switzerland.

Zurich Insurance is a multi-line insurer that serves its customers in global and local markets. Zurich provides a wide range of general insurance and life insurance products and services. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, including multinational corporations, in more than 170 countries. The Company was formed in 1872 and is based in Zurich, Switzerland.

DEAL STATS #
Overall 2 of 7
Sector (Financial Services) 1 of 1
Type (Divestiture) 2 of 7
Country (United Kingdom) 1 of 2
Year (2003) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-02-18 Zurich Life Insurance

Hong Kong, China

Zurich Life Insurance Company is a provider of insurance and risk financing services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-07 PT Mayapada Life

Jakarta, Indonesia

PT Mayapada Life is a Indonesian life insurer focused on the distribution of group and individual life and health plans.

Buy -
Mergr

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