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Archive for the M&A Category

Henderson to buy Janus Capital for about $2.6 billion

LONDON— Henderson Group PLC agreed to acquire U.S. rival Janus Capital Group Inc. for about £2.01 billion ($2.59 billion) as the two active management firms look to cut costs in the face of pressure from low cost fund providers like BlackRock Inc. and Vanguard Group. The planned

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Standard Life buys Ignis Asset Management for £390m

Standard Life will pay £390 million for Ignis including regulatory capital. The consideration will be settled in cash from Standard Life group’s existing internal resources. The transaction is expected to be completed on or before 30 June 2014. According to the Sunday Times Canadian bank RBC and

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McLagan acquires wealth management consultancy Scorpio Partnership

Aon Hewitt company McLagen has acquired wealth management consultancy Scorpio Partnership. Founded by Catherine Tillotson and Sebastian Dovey in 1998, Scorpio has extended its research and strategic wealth solutions proposition to 35 countries across the globe. According to the firm it has surveyed more than 30,000 ultra high

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Revealed: the Cazenove/Schroders wealth management senior team

Over 100 days into the integration of the Schroders and Cazenove private client divisions, head of wealth management Andrew Ross says that with a unified management structure now in place, he is confident the enlarged entity can become the ‘pre-eminent wealth manager in the UK and Channel

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NewSmith AM hires distribution head from Carmignac

NewSmith Asset Management has appointed Matthew Wright as partner and head of UK and European distribution. Formerly head of UK distribution at Carmignac Gestion, one of Europe’s largest asset managers, the appointment is part of NewSmith’s continued development following SuMi Trust’s investment in its parent company, NewSmith

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Standard Life Wealth to be merged into SLI

Standard Life is carrying out an internal restructure which will see the wealth business move into Standard Life Investments. The move will see Standard Life Wealth chief executive Richard Charnock report to SLI chief executive Keith Skeoch, rather than Standard Life UK and Europe chief executive Paul

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Aberdeen Asset Management agrees SWIP takeover deal with Lloyds

Aberdeen Asset Management has bought fund manager Scottish Widows Investment Partnership from Lloyds Banking Group in a £650m deal as part of a “strategic partnership” with the lender. The fund manager is acquiring SWIP via the issue of 131.8m new shares to the state-backed bank worth £550m

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Private equity buyer, Ironbridge Capital, makes play for Bravura

Ironbridge Capital, a private equity investor, has made a proposal to buy global wealth management software and technology company Bravura Solutions. In a statement to the Australian Securities Exchange this morning, Bravura announced it had yesterday received an “indicative, non-binding, conditional proposal” from Ironbridge Capital to acquire

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Lloyds to sell GBP 7.2bn international wealth arm to Swiss bank Union Bancaire Privée (UBP)

Lloyds Banking Group is to sell its international private banking business to Swiss bank Union Bancaire Privée (UBP) as part of its strategy to focus on the domestic wealth market. The transaction will includes the bank’s Geneva-based Private Bank, its branches based in Geneva, Zurich, Monaco and Gibraltar, and its representative office

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SWIP in play again? Ameriprise Financial set to make an £800m bid.

The parent company of Threadneedle Investments is set to make an £800m bid for Scottish Widows Investment Partnership, the fund management arm of Lloyds Banking Group. Ameriprise Financial, a New York-listed giant with a market value of close to £10bn, is leading a pack of bidders for

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