; MassMutual Financial Group
Documents
Resources
Learning Center
Upload
Plans & pricing Sign in
Sign Out
Your Federal Quarterly Tax Payments are due April 15th Get Help Now >>

MassMutual Financial Group

VIEWS: 18 PAGES: 2

  • pg 1
									Ce communiqué peut être recherché sous   http://www.presseportal.ch/fr/pm/100006750/100488199/massmutual-completes-acquisition-of-
baring-asset-management .




MassMutual Financial Group
MassMutual Completes Acquisition of Baring Asset Management

31.03.2005 - 19:18 Uhr, MassMutual Financial Group

    Springfield, Massachesetts (ots/PRNewswire) -

    - Combined Assets Under Management Exceed US$350 Billion

   MassMutual Financial Group announced today the completion of the
acquisition of the global investment management activities of Baring
Asset Management Limited from ING Group. Under terms of the
agreement, a subsidiary of Massachusetts Mutual Life Insurance
Company (MassMutual), purchased Baring Asset Management Limited, as
well as other related subsidiaries (Baring). Terms of the transaction
were not disclosed.

   The acquisition adds approximately US$35 billion to assets under
management for MassMutual and its subsidiaries, which, including
Baring, now exceed US$350 billion. Baring will continue to operate
independently with current chairman and CEO David Brennan retaining
his responsibilities.

   "Clearly, the Baring acquisition is a significant step in our
international growth strategy," said Robert J. O'Connell, chairman,
president and CEO of MassMutual. "Its highly recognized franchise and
global asset management capabilities will provide a springboard for
the worldwide distribution of our companies' financial products and
services, beyond our current international capabilities."

   Baring operates 11 offices in 10 countries. MassMutual and its
subsidiaries currently have offices in 12 countries on four
continents, serving 11 million customers.

   "We continue to grow our business both in the U.S. and
internationally, and will take full advantage of the opportunities
for cross selling products and services from our combined companies'
diversified portfolio. We intend to maximize the use of the highly
recognizable Baring name, particularly in Europe," O'Connell said.

   Baring is one of the most venerable names in the global investment
community. Baring Brothers & Co. was founded in 1762. In 1803, Baring
financed the Louisiana Purchase, which doubled the size of the United
States by adding more than one million square miles, and to this day
remains the largest commercial real estate transaction in history.
The U.K. asset management business was established in 1958. Further,
Baring Brothers & Co. was among the first companies to open an
investment management office in the Far East more than 25 years ago.
It launched investment operations in the U.S. in the late 1970s.
These activities were combined into a single division, Baring Asset
Management, in 1989.

   MassMutual Financial Group is a global, growth-oriented,
diversified financial services organization providing life insurance,
annuities, disability income insurance, long-term care insurance,
retirement planning products, structured settlement annuities, trust
services, money management, and other financial products and
services.

   The MassMutual Financial Group is a marketing designation (or
fleet name) for Massachusetts Mutual Life Insurance Company and its
affiliates, which include: OppenheimerFunds, Inc.; Babson Capital
Management LLC; Baring Asset Management Limited; Cornerstone Real
Estate Advisers LLC; MML Investors Services, Inc.; The MassMutual
Trust Company, FSB; Antares Capital Corporation; MML Bay State Life
Insurance Company; C.M. Life Insurance Company; and MassMutual
International, Inc.

    MassMutual is on the Internet at               http://www.massmutual.com
       Contact:
       Jim Lacey, +1-413-744-2365
       Mark Di Giorgio, +1-413-744-7722

    Web site:        http://www.massmutual.com

ots Originaltext: MassMutual Financial Group
Im Internet recherchierbar: http://www.presseportal.ch

Contact:
Jim Lacey, +1-413-744-2365, or Mark Di Giorgio, +1-413-744-7722 both
of MassMutual




Originaltext:                         MassMutual Financial Group
Dossier de presse:                    http://www.presseportal.ch/fr/pm/100006750/massmutual-financial-group
Dossier de presse par RSS:            http://presseportal.de/rss/pm_100006750.rss2

								
To top