Rathbone Investment Management, a wholly-owned subsidiary of Rathbone Brothers, has acquired UK wealth manager RM Walkden & Co for an undisclosed sum.

RM Walkden & Co has gross assets of just under £1 million (about $1.6 million), Rathbones said in an announcement to the London Stock Exchange. Both firms declined to make further comments.

The UK asset manager has been on a hiring spree of late, making five appointments in March. Tony Milner, Caroline O’Callaghan and James Neill joined the firm’s London office, while the Edinburgh team saw the additions of Evangelos Assimakos and Keith Mackenzie.