Acquiring an asset manager     Study overview: reacting to a unique opportunity   A major European bank has been working with McKinsey over the past months on developing an aggressive internal and external growth strategy for asset management. A previous McKinsey team had developed an initial list of potential acquisition candidates supporting the core of the new strategy around product excellence. The study gets a jump start when the client’s CEO receives a call that one of the potential targets, a US asset manager, is up for sale with a non-binding offer due in 4 weeks time. An international McKinsey team of specialized CF consultants and generalist consultants with experience in asset management is gathered to support the bidding process. Phase one Felix Partner, Zurich Why the acquisition was so important “This acquisition was the key element in the client’s transformation from a local to a global player. All the other elements of the strategy could be achieved internally, but this acquisition was crucial because it completed their product range, skills and market presence.”