MAI Capital Management acquires $500 million RIA

MAI Capital Management, a Cleveland-based independent registered investment adviser managing $7.7 billion, has acquired Greenway Family Office, a St. Louis RIA managing more than $500 million.

The terms of the acquisition, which was MAI’s second this year, were not disclosed.

Joan Malloy, who founded Greenway in 2010, will become MAI’s regional managing director of family office, and the other Greenway employees also will join MAI.

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