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BNY Mellon acquires Cutwater Asset Management

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BNY Mellon has announced the successful acquisition on January 2, 2015, of Cutwater Asset Management ("Cutwater"), a U.S.-based fixed income and solutions specialist with a 20-year track record and approximately $22bn in assets under management.

CIBC has $1.8bn wealth-management war chest

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Canadian Imperial Bank of Commerce would consider spending as much as US$1.8 billion) on wealth-management takeovers, incoming Chief Executive Officer Victor Dodig said, setting a new ceiling for acquisitions by the country’s fifth-biggest bank.

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