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Principal Financial Group (NYSE:PFG) will purchase the Chilean pension manager AFP Cuprum for a price around $1.5 billion. The acquisition will expand the buyer’s footprint in the quickly-growing Latin American markets, as Cuprum holds some $32 billion of assets under management.
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Shares of the top banks, such as those of Wells Fargo & Co. (NYSE:WFC), Citigroup (NYSE:C), Regions Financial Corporation (NYSE:RF), and EverBank Financial (EVER) might soon be monitored as Goldman Sachs, speaking of banks, noted that “We see three reasons for optimism in the third quarter and beyond.” The idea is that the market has failed to price into shares how a tiny gain in the housing market can really boost the bottom lines of such firms.
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