Mergers and acquisitions are a fact of business in the financial sector. Companies collaborate, see opportunity and merge into something entirely different all the time. Sometimes this is a weaker company with shaky financials being taken over, and sometimes it is a collaboration of opportunity that makes both companies stronger.
In recent news as reported by PR newswire, EnTrust and Permal Group have been working their way through a merger agreement that is soon to be finalized. These two companies alone are powerhouses in alternative asset management. As a combined force they will become the largest alternative asset management firm. The Chairman will be Gregg Hymowitz, founder of EnTrust Capital.
This merger will be a very positive move for both companies. To begin with there will be significant cost savings. These savings will be to the tune of about 35-40 million dollars a year. This merger also brings the brightest talents and a global reach to the combined company.
Clients will also enjoy many perks from the two companies becoming one. To start with, they will have a wider base of instruments to choose from when investing their money. There will be more than 150 investment opportunities using more than 18 varying strategies.
The merger will bring about the merging of two companies worth of employees. This will give every client the ability to have a global reach and get more out of their money. The collaboration of employees will also mean that service can be more intensely customized. This will allow for products and services to evolve quicker to meet client needs.
This merger is seen as an opportunity to enhance the strength and reputation of both companies. They will no longer be in competition with one another, they will be in collaboration in order to increase earnings and grow greater wealth.
The potential that this merger will open up is limitless. The two companies are so closely matched that they will only serve to complement one another. The owners and upper management forecast enhanced effectiveness and efficiency as well as increased bottom lines.
As the companies work together for greater returns for self and clients, they have the potential to reach even more clients the world over. At present the two companies boast more than 700 accounts that are held by some of the top income earners in the world. EnTrustPermal is sure to hurdle any obstacles and become one of the forefront capital management companies in the financial sector.