Asset manager River and Mercantile is to merge with investment consultancy P-Solve, part of the Punter Southall Group, and is planning an IPO to fund its growth plans.
The new business will be known as River and Mercantile Group (R&M Group) and will be headed up by P-Solve's Mike Faulkner. R&M's current CEO, James Barham, will continue to head the equity management business and will also take on a group-wide role as head of distribution following the merger. The group said it will seek to grow through the continued development of the divisions already formed by the two businesses, while it is also planning a potential IPO. It said in a statement it will "explore the possibility" of an IPO to help fund its growth plans. It is also seeking to br...
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