José Marques, APR
Media Relations Manager
513.629.1448
Mailing Address:
Western & Southern Financial Group
Media Relations
Mail Station 90
400 Broadway Street
Cincinnati, OH 45202
FOR IMMEDIATE RELEASE:
Contact:
José D. Marques
Media Relations Manager (513) 629-1448
Fort Washington Investment Advisors Agrees to Sell Todd Investment Advisors
CINCINNATI — March 27, 2009 — Fort Washington Advisors, Inc. (Fort Washington) and its subsidiary Todd Investment Advisors, Inc. (Todd) of Louisville, Ky., have signed a definitive agreement wherein Fort Washington will sell the subsidiary to certain principals of Todd. No terms of the deal were released. The deal is expected to close at the end of April 2009.
In addition, immediately following the purchase of Todd from Fort Washington, Todd will combine with Veredus Asset Management (Veredus) and operate the combined firm under the name Todd/Veredus Asset Management, LLC.
The transaction arose from customer concentration issues due to the large volume of business Fort Washington and Todd have been able to successfully secure from clients. Many of those clients have limits on the amount of assets that can be managed by any one advisor and its affiliates, which this transaction cures for both Todd and Fort Washington going forward, as well for these clients.
"Together Fort Washington and Todd have provided excellent service and competitive performance for many customers," stated Maribeth S. Rahe, president and chief executive officer of Fort Washington. "This change will allow us to continue to work together to support existing shared clients, but to also pursue growth separately where it makes sense."
According to Curtiss M. Scott, Jr., president and chief executive officer of Todd, "We have always believed in being highly responsive to our clients’ needs. This approach allows us to continue expanding services to our customers."
Todd serves as a sub-advisor for several Fort Washington clients with its Relative Value Equity strategy. Fort Washington sub-advises several of Todd’s clients with its various Fixed Income strategies. These sub-advisory relationships will continue after the transaction.
About Todd Investment Advisors, Inc.
Todd Investment Advisors, Inc. founded in 1967 and based in Louisville, Ky., is one of the region’s oldest and largest money management firms with over $3.5 billion in assets under management as of 12/31/08. Clients include public and private institutions, corporations, mutual funds, third-party platforms and high net worth individuals. For more information, please visit www.toddinvestment.com.
About Fort Washington Investment Advisors, Inc.
Fort Washington Investment Advisors, Inc. (Fort Washington) founded in May 1990, is the money management and primary investment arm of Western & Southern Financial Group, with more than $25.0 billion in assets.1 Fort Washington is a registered investment advisor with expertise in Fixed Income, Public Equity and Private Equity. Clients include institutions and high-net-worth individuals throughout the country.
1 As of 12/31/08 does not include Todd Investment Advisors, Inc., a wholly owned subsidiary, with $3.5 billion in assets; or Fort Washington Capital Partners Group, a division of Fort Washington Investment Advisors, Inc., with more than $1.8 billion in commitments under management and/or advisement.
About Western & Southern Financial Group
Western & Southern Financial Group (Western & Southern) is a Cincinnati-based diversified family of financial services companies with assets owned, managed and under our care in excess of $42 billion as of Dec. 31, 2008. A Fortune 500 company, Western & Southern has received A.M. Best’s highest rating of A++ Superior for financial strength, Standard & Poor’s AA+ rating (one of the nine highest-rated life insurance groups in the world), Fitch’s AA+ rating and Aa3 (Stable) from Moody’s. With a heritage dating to 1888, the group’s affiliates include The Western and Southern Life Insurance Company; Western-Southern Life Assurance Company; Capital Analysts Incorporated;¹ ² Columbus Life Insurance Company; Eagle Realty Group, LLC; Fort Washington Investment Advisors, Inc.;¹ Fort Washington Savings Company;³ IFS Financial Services, Inc.; Integrity Life Insurance Company; The Lafayette Life Insurance Company; National Integrity Life Insurance Company; Touchstone Advisors, Inc.;¹ and Touchstone Securities, Inc.² For more information, visit www.westernsouthern.com. Western & Southern is the title sponsor of the Western & Southern Financial Group Masters and Women’s Open tennis tournaments.
¹ A registered investment advisor.
² A registered broker-dealer and member FINRA/SIPC.
³ Member FDIC.
Ratings refer to the financial strength of the insurance company and not to the safety, stability or performance of any investment product.
one of the eight highest-rated life insurance groups
in the world based on Standard & Poor's AA+ Very Strong rating.
Rating current as of November 30, 2010.