AMG takes majority equity stake in Welch & Forbes

BOSTON (Bloomberg) — Affiliated Managers Group Inc., a Boston-based asset management
holding company, said it has agreed to take a majority equity stake in Welch &
Forbes Inc., a more than 160-year-old investment firm that manages about $4.2
billion. Boston-based Welch & Forbes provides investment advisory and fiduciary
services to its clients, which include personal trusts, wealthy families and charitable
foundations.