Wealth manager Rathbones has acquired Taylor Young Investment Management's private client business in the first of a string of acquisitions for the group in the sector.
Rathbones expects to pay £10m in cash for the private client business, it said today, although it said this could rise to a maximum of £15m depending on the amount of assets that transfer over to it over the next 18 months. TYIM's investment management team, led by Peter Thomson, has also joined Rathbones as part of the deal, with the purchase expected to increase Rathbones' AUM by 2% to £17.6bn. Rathbones said the acquisition could be the first of many as the regulatory environment impacts the private client sector. "We expect to see more acquisition opportunities in the private c...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
