The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Allspring Global Investments, GIA Partners
Allspring Global Investments, a global asset management firm with $628 billion in assets under advisement, has entered into a agreement to acquire the specialist fixed income investment team of GIA Partners, a New York-headquartered investment firm with a track record of managing global credit portfolios. The GIA team, led by founder Eduardo Cortes, who has over four decades of experience in multi-sector fixed income and emerging market debt, will enhance Allspring's investment platform and capabilities.

The addition will strengthen Allspring's presence, particularly in emerging markets, which are experiencing heightened investor demand, the firm said in a statement. The financial terms of the transaction were not disclosed. It is subject to customary closing conditions and is expected to close early in the third quarter of 2026. The group, which managed about $1.1 billion in assets as of December 2025, will be based in New York at Allspring's offices.

"Eduardo and the GIA team have a disciplined investment approach, strong culture, and proven track record in global credit markets that make them an exceptional fit for Allspring," said Allspring chief executive officer Kate Burke. "Their deep expertise in emerging markets and high yield credit will add meaningful capabilities and underscores our continued commitment to invest in our fixed income platform to better serve our clients."

Cortes, who led the emerging market debt portfolio team at JP Morgan Investment Management prior to founding GIA Partners, is joined by a multilingual team of investment professionals, including:

Albert Tseng, who serves as deputy CIO responsible for credit analysis, investment thesis, and portfolio analysis;

David Ellis, CFA, a high yield specialist senior portfolio manager with expertise in telecom, media, and healthcare;

Hamburg Tang, a senior portfolio manager focused on emerging market strategy who covers autos, airlines, consumer, and industrials; and

Miguel Escobar, a portfolio manager specializing in commodities, chemicals, and energy.

GIA Partners' approach to global credit includes bottom-up analysis to generate country and industry allocations, with a factor analysis overlay to monitor risk exposures. "Our plan to join Allspring marks an exciting new chapter for our team, as their commitment to deep credit research and investing in cutting-edge tools and technology aligns seamlessly with our investment philosophy," said Cortes.