L&G this week acquired the 75 per cent of Cofunds it did not already own for £131m following months of negotiations between the businesses. Cofunds is currently the largest platform in the UK with around £50bn in assets, and the deal values the platform at £175m (to be
Read more →A Schroders’ equities fund has bought about a £135m stake in St James’s Place, after Lloyds Banking Group said it planned to reduce its ownership in the wealth manager. Lloyds said yesterday it had employed Bank of America Merrill Lynch to sell down a roughly 20% stake in St James’s Place, which
Read more →Life assurance firm Phoenix Group has rejected a raft of takeover bids for Ignis said to be in the region of £400 million, according to reports. According to Sky News, the bids were made at the end of last year with the news broadcaster claiming Aberdeen Asset Management
Read more →BNY Mellon has acquired the remaining half of Germany-based WestLB Mellon Asset Management, which it has held in a joint venture with Portigon (formerly WestLB AG) since 2006. The transition to 100% BNY Mellon ownership will see Werner Taiber, who was most recently a member of the
Read more →Acquisitions in the Self-managed super fund (SMSF) space are proving commonplace as businesses attempt to build client bases during the current market conditions, with SuperIQ previously expressing a desire for growth. In the latest wave of consolidation in the space, SMSF provider SuperIQ has acquired former Perpetual
Read more →RBC Dexia has been bought outright by Royal Bank of Canada, which was already a 50% stakeholder, and is to be rebranded RBC Investor Services. Royal Bank of Canada acquired the remaining 50% stake of RBC Dexia from Banque Internationale à Luxembourg and now takes full ownership
Read more →Kleinwort Benson has appointed former Deutsche Bank senior manager Clive Wright to the newly-created role of head of private wealth management offshore, continuing a run of recent senior hires in the company. He will be based in Jersey and report to Stephen Rothwell, head of private wealth
Read more →Man Group plc (“Man”) has agreed to acquire the entire issued share capital of FRM Holdings Limited (Financial Risk Management “FRM”), a global hedge fund research and investment specialist with funds under management of approximately $8.0 billion. Man will integrate FRM with its multi-manager business. Man and
Read more →ING Group NV’s sale of its Asian investment management business has attracted bids from Japan’s Nikko Asset Management, Australia’s Macquarie Group Ltd. (MQBKY) and others, in an auction that could value the operations at around US$500 million, people familiar with the situation said Tuesday. ING is also
Read more →GAM is to acquire Arkos Capital SA, an independent asset management firm regulated in Switzerland with assets under management of CHF 664 million. The transaction is expected to close before the end of the second quarter 2012, subject to regulatory approvals. Arkos manages a range of low-volatility, liquid and transparent
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