Sheffield Hawarth, the financial consultants and executive search firm, has acquired international wealth management recruitment firm Gibson Tullberg, this publication can exclusively report.

Sheffield Hawarth, the financial consultants and executive search firm, has acquired international wealth management recruitment firm Gibson Tullberg, this publication can exclusively report

The financial cost of the acquisition was not disclosed.

The deal brings together the 20-year-old Sheffield Hawarth,which has offices across the world, and a decade-old business with offices in London, Geneva and Singapore and clients range from the largest global banks to niche wealth management businesses and family offices.

Gibson Tullberg has expanded in recent years, adding the key Asia-Pacific region to its footprint in September 2010.

Tim Gibson Tullberg, founder ofthe eponymous Gibson Tullberg business, will hold the post of Singapore head for the Sheffield Haworth business and be head of wealth for Asia and Middle East.Simon Worthington heads up wealth in the UKand Switzerland.All Gibson Tullberg staff will join the venture, apart from Matilda Gibson Tullberg, who is to pursue other interests, Tim Gibson Tullberg told this publication in an email.

“This deal will instantly project the enlarged Sheffield Haworth business to market leadership in the wealth management search industry, in terms of scale and geographical coverage. This market has remained fragmented for many years with small search boutiques working largely on a localised basis and some of the large label executives earch firms covering the market without dedicated resources. The combination of international reach and deep local knowledge brings serious horsepower tothis market,” Gibson Tullberg said in a statement from both firms.

Tim Sheffield, chief executive of Sheffield Hawarth, said: “We see the addition of the Gibson Tullberg team as the critical step change in expanding our private wealth coverage in a coordinated manner across our clients on a global basis. All of our consultants operate off asingle collaborative, global platform which we see as a significant competitive Sheffield Haworth advantage in an age where both talent and assets within private wealth are increasingly mobile and fluid.”

“The addition of “Team GT” to our existing resources will enable us to better serve our selected clients – with broader, deeper coverage in our existing markets, and also now in Switzerland,”he said.

Tim Gibson-Tullberg added: “I am professionally excited to have found a like-minded partner in Sheffield Haworth to consolidate our business in Europe and Asia and extend our reach across the Americas, the Middle East and Australasia”.

“In addition, I am excited about the wider practice depth at Sheffield Haworth which will create access for all areas of the Private Banking model from specialist product and managerial roles to mid and back office functions.”

Gibson Tullberg recruited Rahul Sen and Antony Bejoy Jose from rival Webbe International, this publication reported in August last year.The firm has recently commented to this publication on the state of the employment market.