Deals like this allow both sides to focus on their core strengths, while having a more diversified presence through each other's products and offerings. I fully expect more activity in deals like this as we roll through the business cycle. |
In terms of diversity and geography, it's very similar to the new Legg Mason. |
It would help to diversify both of their distribution channels as well as the product offering for both companies. |
The swap in principle is well-founded, but as it currently stands, some of the other processors represent higher-growth opportunities. |
They're in the middle of a very solid time period right now. It's all good. |