Johnson Financial Group: To acquire Cleary Gull Advisors Inc.

Milwaukee, WI – Thomas M. Bolger, President and CEO of

Johnson Financial Group, today announced the $4 billion parent company of Johnson

Bank and Johnson Insurance has signed a definitive agreement to acquire Cleary Gull

Advisors Inc., a leading SEC-registered investment advisor and wealth management firm

based in Milwaukee with assets under advisement of $2.1 billion.

The transaction is expected to close during the first half of 2016 after receipt of

client consents and regulatory approval. Cleary Gull’s investment banking division is not

included in the acquisition.

“We are making this move to strengthen our market presence with well-known,

highly capable people dedicated to serving their clients with the kind of professional

expertise and personal, caring approach that makes us distinctive in all that we do,” said

Bolger. “This move is part of our growth strategy for our Wealth business and strongly

demonstrates our commitment to the Milwaukee market. It positions us to be a leading

provider of investment advisory and retirement planning services.”

Michael Cleary, agreed. “The basic strength and appeal of Johnson Financial

Group is they are Wisconsin-headquartered, family-owned and here to stay for

generations. What this means to investors and the marketplace is two legacy companies

with deep roots in Milwaukee and Wisconsin will join forces, become bigger and better

together and be able to grow in the best way,” said Cleary. “Plus, all of our clients,

including our specialty practice focused on airline pilots, will now have access to the full

breadth of services Johnson Financial offers, including banking and insurance.”

Michael Cleary will be named President of the company, which will be referred

to as Cleary Gull Advisors Inc., a Johnson Financial Group Company.

Conversations began between the two companies late last summer after

Johnson Financial hired Brian Andrew to be its Chief Investment Officer. Andrew had

previously been President and CIO for Cleary Gull.

“I’ve known Tom Bolger for a number of years and always had great respect for

the Johnson organization,” said Cleary. “I had been thinking about the future of our firm

for some time and when Brian left last year, I reached out to Tom to start a conversation

. . . and here we are!”

Johnson Bank offers customized investment management, fiduciary trust

services and retirement plan services to more than 2,200 individuals, businesses and

institutions. Post-acquisition, the combined company will have more than $8.5 billion in

assets under administration.

To integrate the companies Cleary will work closely with Dan Kaminski, head of

Wealth for Johnson Financial Group.

“I look forward to having the Cleary team join us as we work to enhance the

strengths of both companies,” said Kaminski.

Bolger continued, “We believe this combination will be good for our clients, our

employees and the Milwaukee community.”

About Johnson Financial Group

Johnson Financial Group is a premier financial services company offering comprehensive financial

solutions in the areas of banking, wealth and insurance.  The $4 billion financial services company is the

parent company of Johnson Bank and Johnson Insurance Services and has operating companies in

Wisconsin and Arizona.  Principal owners of Johnson Financial Group are members of the Samuel C.

Johnson family.  Helen Johnson-Leipold is Chairman of Johnson Financial Group in Racine, Wisconsin. For

more information visit and

About Cleary Gull

Cleary Gull ( is an employee-owned firm providing financial advice through two

operating divisions: Investment Advisory Services and Investment Banking Services. Cleary Gull provides

investment advice with respect to over $2.1 billion of client assets for high net worth individuals and

families, pilots, and not-for-profit hospitals and senior living communities across the nation. Cleary Gull’s

investment bankers specialize in providing advice on exclusive sales, mergers and acquisitions, and private

debt and equity capital placement, typically for transactions from $10 million to $200 million.