The Charles Schwab Corporation’s Acquisition of Wasmer, Schroeder & Company

Morgan Lewis and Sidley Austin served as legal advisors to Wasmer Schroeder and Schwab respectively. PL Advisors served as exclusive investment banking advisor to Wasmer Schroeder.

The Charles Schwab Corporation entered into a definitive agreement to acquire Wasmer, Schroeder & Company, LLC in an all cash purchase.

Wasmer Schroeder is a leading independent investment manager of fixed income separately managed accounts with $10.5 billion in assets under management.

The acquisition enables the growth of Schwab’s fixed income separately managed account business with an opportunity for increased asset flows. The ability to offer clients access to these strategies with established track records will help Schwab deliver on growing client demand for investment solutions that help retirees draw an income from their wealth.

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 360 offices and 12.4 million active brokerage accounts, 1.7 million corporate retirement plan participants, 1.4 million banking accounts, and $4.05 trillion in client assets as of January 31, 2020.

Morgan Lewis team advising Wasmer Schroeder was led by Partner Tony Chan (Picture) and associates Tasmin Din and Kevin Lin.

Involved fees earner: Tony Chan – Morgan Lewis; Tasmin Din – Morgan Lewis; Kevin Lin – Morgan Lewis;

Law Firms: Morgan Lewis;

Clients: Wasmer, Schroeder & Company;

Author: Ambrogio Visconti