Fenwick represented Wealthfront, an automated wealth management provider serving the next generation of investors, in its agreement to be acquired by financial services company UBS in an all-cash transaction valued at $1.4 billion.
Wealthfront will become a wholly owned subsidiary of UBS and will operate as a business within UBS Global Wealth Management Americas. The transaction is currently expected to close in the second half of 2022, subject to closing conditions including regulatory approvals.
Wealthfront’s state-of-the-art, digital only platform tailored to next gen affluent investors will accelerate UBS’s growth ambitions in the United States. More information can be obtained from the UBS’s announcement and Wealthfront’s blog post.
The Fenwick transaction team was led by corporate partners Michael Brown and David Michaels, and included associates Ari Haber, Victoria Lupu, Jiarui Li and Riddhi Adhikari; executive compensation and employee benefits partner Shawn Lampron and associates Christophe Delrieu and Jeri Brown; technology transactions partner Ralph Pais and associates Julia Arruda, Andrew Martinez and Heba Tawadross; regulatory partners Mark Ostrau and Tom Ensign, and associate Kaylynn Noethlich; privacy and cybersecurity partner Jim Koenig, director Brent Hoard and manager Sarah Borchers; and tax partner Will Skinner and associate Michael Knobler.