Charles Schwab Corporation Enhances Fixed Income Capabilities With the Purchase of Wasmer, Schroeder & Company, LLC
Charles Schwab Corporation (The) (SCHW)
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Source: Business Wire
Adds to Schwab’s ~$90 Billion of Separately Managed Accounts SAN FRANCISCO & NAPLES, Fla.--(BUSINESS WIRE)--The Charles Schwab Corporation (“Schwab”) today announced that it has entered into a definitive agreement to acquire Wasmer, Schroeder & Company, LLC (“Wasmer Schroeder”) 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 management1.Wasmer Schroeder offers a comprehensive lineup of tax exempt and taxable strategies with strong risk-adjusted performance track records, and a tenured team of investment professionals with deep fixed income expertise. These assets will be a complementary extension of Schwab’s fixed income capabilities and will expand its ~$90 billion2 in separately managed accounts, helping meet the income needs of clients. Subject to customary closing conditions, the transaction is expected to close in mid-2020.“Generating income is one of the greate
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