Wintrust Plans Expansion of Its Asset Management Business, Enters Into Agreement to Acquire Great Lakes Advisors (WTFC)

Wintrust Financial Corporation WTFC, announced it has entered into an agreement to acquire Great Lakes Advisors, a Chicago-based investment manager with approximately $2.4 billion in assets under management and which specializes in domestic equity and fixed income investment strategies for institutional clients. Upon completion of the transaction GLA will merge with Wintrust's existing asset management business, Wintrust Capital Management, LLC. The combined firm will operate its asset management business as "Great Lakes Advisors, LLC, a Wintrust Wealth Management Company" and will have assets under management of nearly $4.5 billion.