Investec Wealth & Investment is continuing with its growth plans.

As part of its growth strategy, Investec Wealth & Investmeent has acquired wealth management company Murray Asset Management for an undisclosed sum.

Subject to regulatory approval, the acquisition of the Edinburgh-based firm will see the transfer of the team of staff at Murray Asset Management to Investec Wealth & Investment, the firm said in a statement.

The company provides a wealth management suite of products and services for clients.

Welcoming the move, Barbara-Ann King, chief executive officer-designate of Investec Wealth & Investment, said: “We have ambitious growth plans to build Investec Wealth & Investment into a business that is truly market-leading and delivers a best-in-class client experience.”

“The acquisition of Murray Asset Management is an integral part of our strategy to enable us to deliver our financial advice services to more clients throughout the UK,” she added.

Ruthven Gemmell, chief executive of Murray Asset Management, said: “By joining forces with Investec, we believe our clients will benefit from the enhanced services.”

“Our team in Edinburgh is looking forward to welcoming everyone at Murray Asset Management and working with them to grow our combined business in the region," Leigh Yeaman, divisional director of Scotland and Northern Ireland, added

Subject to regulatory approval, London-listed Investec, a wealth management firm that manages over £44.4 billion ($53.9 billion) of its clients’ money, is committed to complete the acquisition by the end of September 2022.