MitonOptimal, a global asset manager with operations in jurisdictions including Guernsey, South Africa and Singapore, has agreed to buy a majority stake in Argyll Investment Services in Guernsey for an undisclosed sum.

As part of the move, Argyll will be re-named MitonOptimal Portfolio Management (CI) and take on the branding of the wider MitonOptimal Group, the firm said in a statement. The combined firm has around £600 million ($962 million) of assets.

Argyll was formed in 2000 as an independent discretionary portfolio manager. It offers bespoke investment portfolio management services, a niche discretionary fund management service, bespoke pension services and the Fortress Pension Plan.