As part of the agreement, Wintrust subsidiary Great Lakes Advisors will purchase Rothschild & Co Asset Management US and Rothschild & Co Risk Based Investments, collectively known as Rothschild & Co Asset Management U.S.
The two units together have around $8bn in assets under management. The firms provide institutional, intermediary and other customers with equity investment plans.
Once the deal is closed, Rothschild & Co Asset Management U.S. will operate as Great Lakes Advisors.
The deal, value of which has not been divulged, is anticipated to be completed by the first quarter of next year.
It awaits approval for certain closing conditions.
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Wintrust founder and CEO Edward J. Wehmer said: “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.”
Wintrust is said to manage nearly $52bn of assets on behalf of its clients.
Rothschild & Co managing partner Francois Perol said: “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.”
In April this year, Rothschild & Co announced a plan to rebrand its business in Luxembourg after the purchase of Banque Pâris Bertrand.