Genworth Financial Wealth Management, Inc., a subsidiary of Genworth Financial, Inc. will have a change in name by September 2013, following US-based private equity firms Aquiline Capital Partners’ and Genstar Capital’s acquisition of the firm for US$412.5 million.
According to Genworth Financial Wealth Management chief Gurinder Ahluwalia, the name change for Genworth Financial will mark the new direction the firm is now taking with its investors.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
With the aqusition, the private equity firms aim to enable Genworth to gain greater scale. The aqusition will also allow Genworth to offer both a wealth management platform with third-party investment management products and alternatives through its subsidiary, Altegris.
Ahluwahlia said: "Genworth has more than $22 billion in assets under management (AuM) and works with more than 6,000 advisors nationwide, with 42 regional consultants nationwide and four practice management consultants."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
