LAKE FOREST, Ill., March 16 /PRNewswire-FirstCall/ -- Wayne Hummer Asset Management Company (WHAMCO), a subsidiary of Wintrust Financial Corporation (Nasdaq: WTFC), announced an agreement to purchase certain assets and assume certain liabilities of Advanced Investment Partners, LLC (AIP), an affiliate of State Street Global Alliance, LLC. AIP is an investment management firm specializing in the active management of domestic equity investment strategies.

WHAMCO will form a new subsidiary that will continue with the AIP name. AIP senior management members will maintain a minority ownership interest in the new business. AIP's staff, including the investment management team, will continue to operate the business from its headquarters near Tampa, Florida. The terms of the transaction were not disclosed. The transaction is expected to be completed in the next thirty days, subject to certain closing conditions.

Dan Cardell, president of WHAMCO, commented on the benefits of this transaction. "AIP represents an ideal partner for us. Their institutional-quality domestic equity offerings and long, impressive track record complement our current product suite. We now have a full array of equity and fixed income strategies to offer our clients." Doug Case, president, CIO, and co-founder of AIP, added, "This is an exciting development for our firm. The senior principals of our two firms have known and respected each other throughout our careers and we look forward to working together to create value for our clients."

With AIP, WHAMCO establishes itself as a major player in the institutional investor market. Todd Doersch, Head of Product Management for WHAMCO, said, "The AIP core domestic equity product suite will continue to be distributed through the broker-dealer and RIA channels. However, we are especially looking forward to raising AIP's visibility in the institutional market with plan sponsors, advisors, and consultants. AIP's historical and recent performance has been solid, so we believe we are well positioned to benefit as investors rebalance their manager allocations towards those who have demonstrated skill throughout these challenging markets."

About Wayne Hummer Wealth Management

Wayne Hummer Wealth Management provides a comprehensive suite of wealth management services and oversees nearly $6 billion in client assets. Since 1931, Wayne Hummer Investments has been providing a full range of investment products and services tailored to meet the specific needs of individual investors throughout the country. Wayne Hummer Asset Management Company is the investment advisory affiliate of Wayne Hummer Investments. Wayne Hummer Asset Management Company manages assets for private clients, public and corporate pensions, Taft-Hartley funds, as well as portfolios for Wayne Hummer Trust Company. Wayne Hummer Trust Company provides trust and investment products and services to individuals and businesses in Wintrust community bank markets.

About Wintrust Financial Corporation

Wintrust Financial Corporation is a financial services holding company headquartered in Lake Forest, Illinois, with assets in excess of $10 billion. Its common stock is traded on the NASDAQ Stock Market(R) (NASDAQ: WTFC). The Company engages in community banking, wealth management, specialty finance, and mortgage origination through its operating subsidiaries.

About Advanced Investment Partners, LLC

Advanced Investment Partners, LLC (AIP) is an investment management firm specializing in active quantitative U.S. equity strategies. AIP's investment process employs a comprehensive valuation methodology that detects and adapts to evolving opportunities within the marketplace. Each strategy is systematically engineered with rigorous risk management to consistently add value throughout varying market conditions. Located in Safety Harbor, Florida, AIP manages assets in tax-exempt and taxable accounts for both institutional and private clients.

SOURCE Wintrust Financial Corporation

Contact: Tom Zidar, Chairman & Chief Executive Officer of Wayne Hummer Wealth Management, +1-312-431-6593, or Dan Cardell, President & Chief Investment Officer of Wayne Hummer Asset Management +1-312-431-6559