The Financial Conduct Authority has approved the merger between Rathbones and Investec Wealth & Investment, but the deal now faces a shareholder vote.
The deal was first announced in April in a bid to "create the UK's leading discretionary wealth manager", Rathbones said today (1 June). Rathbones CEO on Investec W&I merger: Scale crucial to beat inflation In a regulatory filing, Rathbones explained the deal is now subject to shareholder approval, which is set to take place at its general meeting on 23 June at Rathbones offices. The firm added the FCA had approved the combined prospectus and Class 1 shareholder circular in relation to the combination but had yet to approve the change in control application. For the merger to go...
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
