Rathbones in merger talks with rival wealth manager

London-based wealth manager Rathbones confirmed yesterday that it is in exclusive talks with Smith & Williamson, a London-based investment house and accountancy practice.

FTSE 250 Rathbones said that the proposed £2 billion (€2.2 billion) merger, which would value privately-owned Smith & Williamson at £500 million to £600 million, “would bring meaningful benefits to the stakeholders of both businesses”.

Rathbones added that the two firms had been in talks “for some time” and that a further announcement would be made when appropriate.

If a merger goes ahead, the new entity would have almost 3,000 staff and more than £50 billion in assets.

A merger between the two firms would be the latest in a wave of consolidation in the asset management sector this year, following the high-profile merger of Aberdeen Asset Management and Standard Life as well as a tie-up between Henderson Group and Janus Capital.

©2017 funds europe

HAVE YOU READ?

THOUGHT LEADERSHIP

The tension between urgency and inaction will continue to influence sustainability discussions in 2024, as reflected in the trends report from S&P Global.
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

CLOUD DATA PLATFORMS

Luxembourg is one of the world’s premiere centres for cross-border distribution of investment funds. Read our special regional coverage, coinciding with the annual ALFI European Asset Management Conference.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST