Mubadala Capital, which manages $27 billion in assets, will take a 42% stake in Silver Rock Financial, which manages $10 billion in assets.
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The deal expands Mubadala Capital’s reach in the US while giving CI Financial additional backing after years of snapping up RIAs.
The industry will need more than 70,000 new staff over the next five years, according to a Charles Schwab report.
A day after antitrust enforcers successfully blocked Albertsons’ planned sale to Kroger, the former filed a lawsuit against the latter.
Call the considerations, which could have knock-off effects on global currency markets, a yuan-sided argument.