M&A team advises Intercontinental Wealth Management in its sale to Corient

A corporate team of lawyers from Norton Rose Fulbright's US, Mexico and Canada offices advised Intercontinental Wealth Management (IWM) in its sale to Corient Private Wealth LLC (Corient), the US private wealth division of CI Global Asset Management (CI), one of Canada's largest investment management companies.

IWM operates as a high-net-worth advisory firm serving individuals and families, businesses, nonprofit organizations and foundations in the US and internationally. Based in San Antonio, Texas, with an office in Ft. Lauderdale, Florida, IWM has approximately US$2.3bn in client assets.

Recently rebranded from CI Private Wealth, Corient Private Wealth LLC is an integrated US wealth management firm providing comprehensive solutions to its high-net-worth and ultra-high-net-worth clients. Headquartered in Miami, Corient is a subsidiary of Toronto-based CI Financial Corp., a global asset and wealth management company with more than US$300bn.

The team was led by Daryl Lansdale (San Antonio/Austin) and David Barrett (New York) and included Cassandra Gizzo, Ryan Waggoner, Aneeta Iqbal, Steve Howard (New York), Lee McIntyre (Houston), Ben Montanez (San Antonio), Todd Schroeder, Alexander Clark (Dallas), Andres Nieto (Mexico City) and Jennifer Kennedy (Calgary).

This transaction comes shortly after the team represented Waddell & Reed Financial, Inc. (NYSE: WDR) in its sale to Macquarie Asset Management (ADR: MQBKY) and LPL Financial Holdings Inc. (LPLA).