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Wintrust to Acquire Great Lakes Advisors

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Wintrust Financial Corporation (Wintrust) has entered into an agreement to acquire Great Lakes Advisors (GLA), a Chicago-based investment manager with approximately USD2.4 billion in assets under management .

Upon completion of the transaction GLA, which specializes in domestic equity and fixed income investment strategies for institutional clients, will merge with Wintrust’s existing asset management business, Wintrust Capital Management, LLC. The combined firm will operate its asset management business as "Great Lakes Advisors, LLC, a Wintrust Wealth Management Company" and will have assets under management of nearly USD4.5 billion.

Edward Wehmer, President and CEO of Wintrust, says: "Building our asset management capabilities is a strategic priority for us and this merger will represent a major step forward. With the acquisition of Great Lakes Advisors, we will establish ourselves as a major player in the institutional investor market in the Midwest."

Tom Kiley, who is a Managing Director of Great Lakes Advisors and will become CEO of the combined company upon completion of the merger, says: "This merger will bring together two firms that share many common values and operate distinct but complementary lines of business. By leveraging the strengths of both organizations, we are better positioned to serve clients and can employ our expanded resources and scale to further enhance our investment strategies and client service."

Tom Zidar, Chairman and CEO of Wintrust Wealth Management, says: "We are excited to be joining forces with Great Lakes Advisors. Their leadership team has an outstanding reputation and investment track record. We look forward to bringing their expertise and capabilities to our private clients and growing the combined business."

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