On December 17, 2024, Corient Private Wealth announced that it plans to acquire H.M. Payson& Co.
Corient Private Wealth LLC (“Corient”) announced, on December 17, 2024, its plans to acquire H.M. Payson& Co. (“HMP”), including $1.2 billion in trust assets handled through HMP’s Maine chartered trust company. The deal is expected to close in 2025. Further terms of the transactions were not disclosed.
CI Financial (TSX: CIX), based in Toronto, Ontario, is publicly-traded asset management firm providing investment management and wealth management services. As of May 2024, CI Financial had nearly $482 billion in client assets.
Corient, based in Miami, is the US wealth management division of CI Financial and registered investment advisor offering retirement, tax, estate, insurance, philanthropic, succession, business exit, and financial planning services. As of December 2024, Corient had $184 billion in client assets.
HMP, based in Portland, Maine, is a registered investment advisor that offers investment advice and trust services to individuals, families, and institutions. As of December 2024, HMP had $7.9 billion in client assets.
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