M&A Activity Maintains Momentum Transaction volume held steady in April driven by sustained buyer appetite across the food industry particularly in categories with strong consumer relevance and margin visibility Diversified packaged food and snacking & confections accounted for half of the total US deal flow while restaurants (~20% and wholesale/foodservice distribution (~15% continued to…

The hidden risk in your favorite FX rate, WMR a part of LSEG’s FTSE Russell division began publishing intraday and end-of-day foreign exchange (FX or currency benchmark prices in 1994 Useful for portfolio valuation reporting and trading the benchmark rates became in the modest words of FTSE Russell   “the de facto standard for closing spot rates on a global basis”  Banks noted the increasing use of the end-of-day benchmark rates for…, Background on benchmark FX rates, The FX market is huge trading about $75 trillion dollars a day dwarfing equities But unlike equities most currencies aren’t traded on exchanges instead foreign exchange deals are typically between two parties often a large bank and its client The absence of an exchange stymied the development of benchmark FX rates until WMR created its methodology and published rates The rates allow users to…, Doubts about the WMR rates, Some events have WMR customers questioning whether its benchmark rates are independent and representative of market rates In 2014 several large global banks agreed to pay billions of dollars in fines for conspiring to manipulate the WMR London 4 pm spot rates between 2008 and 2013 The banks colluded before the London 4 pm fix sharing information about their customers intentions and trading ahead…, And then April 3rd happened, Criticism of the WMR process got a boost on April 3 2025 when a WMR system malfunctioned interrupting WMR’s calculation of its London 330 pm and 4 pm rates WMR followed its disaster recovery protocols fixed the problem and published the rates about 4 hours later No system is foolproof but the incident indicated that the WMR process is exposed to operational risk resulting from a failed system…, WMR and benchmark rate review, Criticizing WMR is easy for journalists looking for a story or competitors angling to steal WMR customers But the trading scandal occurred over a decade ago and the April 3rd malfunction could happen to any system WMR can point to substantial benefits rare interruptions and a large customer base as indicators of the usefulness of the WMR process  Recognizing the importance of their rate service…, What else can be done , For a firm depending on the rates top of the list is having a contingency plan Whether that’s waiting like Mesirow for the WMR system to come back online getting closing rates from a back-up rate provider using a trading strategy to simulate closing rates or some other solution will depend on the user and its benchmark requirements  The FX industry might benefit from a broad evaluation of the…, Explore more currency insights, Should a nation manage its currency, Free float vs managed float currency exchange rates which one is better Read article, US Dollar Currency Dynasty, The currency composition of official foreign exchange reserves has changed significantly over the past 25 years How did the USD ascend and can it hang on to its dominance Read article

There comes a time when our clients decide to relocate permanently in the state of their choice often in a warmer locale  This happens often enough that we thought we would share a checklist for those considering this exciting next phase in their lives , Recommended action steps when changing your permanent residency from Illinois to another state Spend more than 183 days per year in the new state If you vacation during the year in any other state(s you should make sure you are not present in Illinois more days than you are present in your new state of residency (even if you are in Illinois less than 183 days Maintain a log or diary of the days…, Published January 2025

There have been changes to IRS regulations over the last few years that have in some instances expanded how an individual may want to consider carrying out charitable giving If you are making charitable contributions now is a good time to re-examine the tax benefits of doing so and if the gifting strategies you are utilizing are best for you, There are several ways in which you can achieve your charitable objectives Below are a few examples of strategies and the benefits of each, Lifetime transfers of highly appreciated stock, Allows for an immediate income tax deduction Avoidance of capital gain realization Does not cause any disruption to cash/liquidity on hand, Qualified Charitable Distributions, If you are 70 ½ or older this strategy allows a direct transfer of funds from your IRA to a qualified public charity, This distribution results in NO realization of income and can be used to satisfy your required distribution amount (up to $105000, Beginning in 2025 the allowable amount ($108000 will be indexed for inflation, Donor Advised Fund (DAF, Separate investment vehicle from which grants can be made to any 501(c(3 organization, Gift highly appreciated stock cash and depending on the platform other assets to a DAF The transfer of assets results in an immediate income tax deduction, Proceeds of the sale are reinvested among a diversified portfolio, DAF is a pool of investments from which to make future charitable distribution Consider funding in years when income is higher Less complexity than establishing a foundation, No filing requirement, No tax preparation required No board minutes, No minimum distribution requirements (varies from plan sponsor, The above are some simplistic ways to meet your charitable obligations and have a significant income tax benefit, Additional strategies, A few additional strategies that can be incorporated into a broader estate plan can be found below A Charitable Remainder Unitrust (CRUT is an irrevocable trust that provides a lifetime income benefit to the donor The funding of this trust results in an immediate income tax deduction based on the remainder value for the named charity donor advised fund or foundation Funding the trust with highly…, Published February 2025,  

Ashley Crotwell is a Vice President Wealth Advisor in Mesirow Wealth Management She specializes in helping individuals families and business owners achieve their goals by creating customized financial and retirement plans in conjunction with team investment strategies that are uniquely tailored to fit their needs  Ashley has 29 years of experience in the financial services industry Before joining…

Firm adds David Schrock from Jupiter Asset Management and Mike Tadlock CFA from Blackstone, Deeply experienced professionals hired to support the team’s ongoing growth in assets under management (AUM and product evolution,  , CHICAGO June 15 2023, – Mesirow an independent employee-owned financial services firm is pleased to announce the addition of two senior professionals to our Global Investment Management team The appointments are consistent with a strategy to broaden and focus relationship management for product expertise and location  Our alternative and traditional strategies continue to display AUM growth and evolution  As our…, About Global Investment Management, With global headquarters in Chicago Mesirow Global Investment Management provides clients global alternative and traditional strategies that are customized by special teams to address individual risk and return objectives Mesirow offers institutional investors customized currency management high-quality private equity partnership and sponsorship opportunities compelling direct real estate…, About Mesirow, Mesirow is an independent employee-owned financial services firm founded in 1937 Headquartered in Chicago with locations around the world we serve clients through a personal custom approach to reaching financial goals and acting as a force for social good With capabilities spanning Global Investment Management Capital Markets & Investment Banking and Advisory Services we invest in what…, Media, mediainquiries@mesirowcom | Michael Herley | 2033081409   Mesirow refers to Mesirow Financial Holdings Inc and its divisions subsidiaries and affiliates The Mesirow name and logo are registered service marks of Mesirow Financial Holdings Inc © 2023 Mesirow Financial Holdings Inc All rights reserved Investment management services provided through Mesirow Financial Investment Management Inc Mesirow…