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Diversification boosts Nuveen's growth, returns.

By MURPHY, H. LEE
Publication: Crain's Chicago Business
Date: Monday, May 17 1999

A specialist in municipal bonds until a series of acquisitions two years ago, John Nuveen Co. is enjoying rapid growth as a result of its diversification into stock equity funds and other financial products.

The 1997 deals for Rittenhouse Financial Services Inc. in Radnor, Pa., and Flagship Resources Inc. of Dayton, Ohio, along with a minority investment in Institutional Capital Corp. in Chicago, propelled Nuveen into managing broad-based investment accounts, mostly for affluent individuals.

The business has blossomed over the past 18 months, rising from 14,

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