Boston Private Scoops Up Banyan Partners in $60M Deal

Megan Leonhardt | wealthmanagement.com, July 2014

Summary: Boston Private Bank, a subsidiary of Boston Private Financial Holdings, on Wednesday acquired Florida-based Banyan Partners in a $60 million cash and stock deal.Wednesday’s deal adds more than $25 million of annual fee-based revenue and the combined operation will have approximately $9 billion in client assets under management and advisement, making it one of the largest wealth management companies in the U.S., according to Clayton G. Deutsch, CEO and President of BPFH.

By accessing private banking and trust services, we will now be in a special position to deliver the full complement of wealth management services to the high net worth marketplace. Both teams share a mutual passion for client service and innovative portfolio management, providing a solid foundation for expansion."