Ashcourt Rowan

Wealth manager Towry is again considering plans for an initial public offering, according to reports.

Fidelity's Alex Wright has boosted exposure to banks as consolidation in the wealth management sector sees opportunities to invest there dry up.

Towry has appointed Ashcourt Rowan's managing director Steve Midgley as head of sales strategy and operations following its acquisition of the firm.

Wealth manager Towry has completed the buyout of rival firm Ashcourt Rowan.

Reade Griffith, the hedge fund manager who built sizeable stakes in Ashcourt Rowan and WH Ireland last year, has upped his stake in Liontrust Asset Management to 10%.

Wealth management group Towry saw profit more than halve in 2014 as a result of costs relating to acquisitions and "various issues" following discussions with the regulator.

The start of 2015 has proved to be a busy few months for the wealth management space as firms make acquisitions, hires and expansion plans. Investment Week rounds up the stories you may have missed.

Brewin Dolphin has been named as a prime candidate to join the wealth management M&A merry-go-round by broker Liberum Capital.

Towry has increased its offer for Ashcourt Rowan to £120m, a move which is understood to have been prompted by rival bidders circling the firm.

Three members of senior staff at Ashcourt Rowan are to exit as its takeover by Towry is finalised.