Schroders has announced its intention to acquire River and Mercantile Group’s (RMG) UK solutions business for approximately £230m, with CEO James Barham set to transfer as part of the deal to lead the business at Schroders and take on a broader management role.
The transaction is expected to complete in the first quarter of 2022, subject to RMG shareholders' and regulatory approval. Upon completion, Alex Hoctor-Duncan will succeed Barham as CEO of RMG, and will join the board on 29 November as previously announced. RMG has said it intends to refocus as a specialist asset manager, and to diversify and grow its investment capability, product range and geographic exposure, with specific plans to create a broader range of equity products, and in-demand alternatives and private market products. River and Mercantile to launch strategies with ne...
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