CI Financial Corp. agreed to acquire Segall Bryant & Hamill, the companies announced in a joint news release Monday.
Terms of the deal were not disclosed. Once the deal is closed, which a company spokesman said is expected in the second quarter, the addition of SBH is expected to double CI’s total U.S.-based assets under management to $46.1 billion.
"Acquiring Segall Bryant & Hamill is a major step forward as we continue our U.S. expansion," said Kurt MacAlpine, CEO of Toronto-based CI, in the news release, adding that "the SBH team will remain intact and be a key driver of CI's growth in the U.S."
Founded in 1994, SBH has $23.1 billion in AUM and has offices in Chicago, Denver, Philadelphia, St. Louis and Naples, Fla.
