Afore XXI Banorte, a 50/50 JV between Banorte and the state pension system IMSS, becomes the leading pension fund manager in Mexico while enabling the seller, Spanish bank BBVA, to raise much-needed capital.
Principal Financial Group
In its biggest bet yet on Latin America, Principal takes a market-leading position in Chile's hot pension market, which has seen consistent double-digit growth rates.
Merrill Lynch International Wealth Management
Julius Baer Group
Bank of America sells another non-core, and in this case loss-making, business while Julius Baer increases exposure in growing markets in Asia and the Middle East.
Carlyle Group; management
Unable to wait for an IPO, Société Générale makes a final appearance in this ongoing Los Angeles soap opera by announcing the sale of its ownership to management and private equity.
Having beaten out Julius Baer to acquire Rabobank's controlling interest in this Swiss private bank in 2011, Safra Group proceeds to buy out the remaining public shareholders at a 25% discount to the price paid to Rabobank.
Initial public offering
After a long gestation period that started before the financial crisis, Carlyle at last gets a public listing and the currency needed to expand beyond private equity as it tries to catch up with competitors Blackstone and KKR.
Epoch Holding Group
Having kept to the sidelines since the financial crisis in contrast to the other Canadian banks, TD plays catch-up by acquiring this successful U.S. and global equity manager that was founded only in 2004.
NGP Energy Capital Management
Carlyle provides liquidity to Barclays Bank and management in a structured revenue interest deal, paying $424 million at closing and earnouts of up to $243 million for this successful energy investor.
Horizon Fund Management
As a result of another divestiture by Spanish bank BBVA, the largest financial conglomerate in Colombia also becomes the market leader in pension and unemployment fund management by combining Horizon with its existing administrator, Porvenir.
Kleinwort Benson Group (RHJ International)
On the market since Deutsche acquired this highly regarded German private bank as part of its 2009 Sal. Oppenheim purchase, German regulator BaFin may yet prevent this announced sale to Kleinwort Benson, having shot down LGT as a buyer last year.
Dexia Asset Management
Dexia gets a disappointing price for its asset management subsidiary from Hong Kong private equity firm GCS Capital after a lengthy 14 month-sale process. A strategic partnership signed by GCS with Industrial and Commercial Bank of China helped to clinch the deal.
Mitsubishi UFJ Merrill Lynch PB Securities
Mitsubishi UFJ Financial Group
MUFG buys out Bank of America Merrill Lynch's share of their private-banking joint venture in Japan, thereby freeing up MUFG to focus on its budding strategic relationship with Morgan Stanley.