Wells Capital acquires Reeves IM to swell AUM to £135m

Wells Capital has acquired fellow discretionary firm Reeves Investment Management in a deal which increases its AUM by over £50m.

Reeves IM managing director Eric Clapton has also taken over as managing director of Wells Capital with immediate effect. The Reeves team will relocate from London to Wells Capital's Tunbridge Wells office as part of the deal. The acquisition will see Wells Capital's assets under management jump to £135m. "It became clear early on that there were huge similarities, both culturally and operationally, between Wells Capital and Reeves Investment Management, and a combined conviction for client service reinforced this," said Wells Capital owner Karen Vidler. "Both businesses have the s...