Sale of North American Asset Management business

Wintrust to expand its Investment Management business, enters into agreement to acquire North American Asset Management units from Rothschild & Co

Wintrust Financial Corporation (“Wintrust”) (NASDAQ: WTFC) and Rothschild & Co announced they have entered into an agreement for Wintrust to acquire two asset management businesses from Rothschild & Co North America Inc.   Wintrust’s subsidiary, Great Lakes Advisors, LLC, agreed to purchase Rothschild & Co Asset Management US Inc. and Rothschild & Co Risk Based Investments LLC (collectively, “Rothschild & Co Asset Management U.S.”), investment managers with approximately US$8 billion in assets under management specialising in equity investment strategies for institutional, intermediary and other clients.  Upon completion of the transaction, Rothschild & Co Asset Management U.S. will merge into and operate its business as Great Lakes Advisors, LLC.

Edward J. Wehmer, Founder and CEO of Wintrust, commented on the pending transaction: “We have been very pleased with the growth in our wealth and investment management businesses at Wintrust.  The addition of Rothschild & Co Asset Management U.S. to our team at Great Lakes Advisors will bring further scale, capabilities, and investment talent to the organisation as it strives to deliver superior investment strategies to its growing institutional, intermediary, and private wealth clients.  We are thrilled to welcome the Rothschild & Co Asset Management U.S. team with its excellent reputation in the industry and an investment approach that aligns so well with our own core principles.”

Francois Perol, Managing Partner of Rothschild & Co, said: “We are delighted to have executed this agreement.  Great Lakes will be an excellent home for our clients and our colleagues, and we wish them every success.  As far as Wealth and Asset Management is concerned, we will focus our efforts on our rapidly growing European business. Our Global Advisory and Merchant Banking business will continue to expand in North America and across the globe.”

 

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For more information contact:

Wintrust  
Edward J. Wehmer, Founder & Chief Executive Officer
David A. Dykstra, Vice Chairman & Chief Operating Officer
Thomas P. Zidar, Chairman and CEO – Wintrust Wealth Management 
Tel: +1 847 939 9000
www.wintrust.com

Rothschild & Co
Marie-Laure Becquart, Investor Relations, Rothschild & Co 
investorrelation@rothschildandco.com
Caroline Nico, Media Relations, Rothschild & Co
Groupmediaenquiries@rothschildandco.com

Brunswick Group
Alex Yankus / Rachael Collins
Tel: +1 212 333 3810
rothschildandcous@brunswickgroup.com

Terms of the Transaction

The terms of the transaction are not being disclosed.  The transaction is expected to be completed early in the first quarter of 2023, subject to certain closing conditions.

About Wintrust

Wintrust is a financial holding company with assets of approximately US$52 billion whose common stock is traded on the Nasdaq Global Select Market. Built on the "HAVE IT ALL" model, Wintrust offers sophisticated technology and resources of a large bank while focusing on providing service-based community banking to each and every customer. Wintrust operates fifteen community bank subsidiaries, with over 170 banking locations located in the greater Chicago and southern Wisconsin market areas. Additionally, Wintrust operates various non-bank business units including business units which provide commercial and life insurance premium financing in the United States, a premium finance company operating in Canada, a company providing short-term accounts receivable financing and value-added out-sourced administrative services to the temporary staffing services industry, a business unit engaging primarily in the origination and purchase of residential mortgages for sale into the secondary market throughout the United States, and companies providing wealth management services and qualified intermediary services for tax-deferred exchanges.

About Rothschild & Co

Rothschild & Co is a family-controlled and independent group and has been at the centre of the world’s financial markets for over 200 years. With a team of talented financial services specialists on the ground in over 40 countries, Rothschild & Co’s integrated global network of trusted professionals provides in-depth market intelligence and effective long-term solutions for its clients in Global Advisory, Wealth & Asset Management, and Merchant Banking.  

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Investors are cautioned that such statements are predictions and actual events or results may differ materially. Wintrust's expected financial results or other plans are subject to a number of risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" and the forward-looking statement disclosure contained in Wintrust's most recent Annual Report on Form 10-K and in any of the Company’s subsequent SEC filings. Forward-looking statements speak only as of the date made and Wintrust undertakes no duty to update the information.

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