City Financial acquires Eden Financial AM

City Financial has bought the asset management arm of Eden Financial in a move to bolster its UK equity, fixed income and multi-asset presence, Investment Week can exclusively reveal.

The announcement comes one week after parent Eden Financial announced it had entered an agreement to be acquired by Collins Stewart Wealth Management, the UK wealth management subsidiary of Canaccord Financial. However, Eden Financial Asset Management was excluded from the deal. Top-performing managers Leigh Himsworth and Mark Harris have moved across to City Financial following the acquisition. Ed Rosengarten, head of asset management at Eden Financial, has become head of City Financial’s UK asset management business. The acquisition also includes Eden’s credit fund manager Thomas Le...