M and A
Deals Of The Day: The Latest In Wealth Management M&A - Brooks Macdonald, Lloyds
The latest M&A deals in wealth and asset management.
Brooks Macdonald
Brooks
Macdonald has received all regulatory green lights for its
purchase of Lloyds Bank International’s Channel Islands wealth
management and funds arm.
The acquisition, first announced on 24 June this year, was
carried out by the UK-listed group’s Brooks Macdonald Asset
Management (International) entity.
The deal adds about £900 million ($1.197 billion) in
international funds under management, and about 1,000 private
clients, to the group. It also builds out multi-asset and fixed
income capability and extends its international intermediary
distribution reach.
On a pro-forma basis, the group's funds under management have
risen by around 6.5 per cent to more than £14.5
billion.
“The acquisition of Lloyds Bank International’s Channel Islands
wealth management and funds business is another step forward for
Brooks Macdonald in achieving our growth ambitions and driving
value creation. The move continues the reinvigoration of
International under Andrew Shepherd and his team, bringing
benefits from greater scale, new capabilities and expanded
distribution reach,” Caroline Connellan, chief executive of
Brooks Macdonald, said.
