It was expected to earn double-digit earnings per share in the first full year post completion.
Nick Good, Pendal Group chief executive, said client support had been strong with 96% TSW client consent received in 11 weeks.
“It is a testament to the compatibility and drive of the two organisations and their teams that we have completed the acquisition well ahead of original expectations,” Good said.
Reifsnider said: “The team and I are more convinced than ever of the merits of bringing together these two culturally aligned and forward-looking businesses.
“We believed from the outset that both organisations are a natural fit with compatibility in investment philosophy, client service and our entrepreneurial approach.
Pendal Group, Parent Company Of J O Hambro Capital Management, Completes Strategic Acquisition Of Thompson, Siegel & Walmsley LLC
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BOSTON, July 22, 2021 /PRNewswire/ Pendal Group Limited (Pendal), parent company of J O Hambro Capital Management Limited (JOHCM), today announced the completion of its acquisition of Virginia-based, value-oriented investment management company, Thompson, Siegel & Walmsley LLC (TSW).
Pendal Group CEO, Nick Good, said, We are thrilled to welcome the TSW team and its clients to Pendal Group. Client support has been incredibly strong, with 96% of TSW client consent received in just 11 weeks. It is testament to the compatibility and drive of the two organizations and their teams that we have completed the acquisition well ahead of original expectations.
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Pendal Group (ASX:PDL) share price climbs higher despite net outflows
Cash is going out, but investments are going up…
Mitchell Lawler is a site writer at The Motley Fool Australia. He holds a Bachelor of Engineering and previously worked in the consulting space while his interest in equities grew. Mitchell is now completing his studies in finance and wealth management and hopes to help others in their investing journey.
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Pendal Group Ltd(ASX: PDL) share price is moving onwards and upwards today. This movement follows the global investment manager’s funds under management (FUM) update for the quarter ending June 2021.