A report last week which suggested that a management buyout at UK broker Kaupthing Singer & Friedlander Capital Markets will be followed by a move into the wealth management arena is incorrect, the firm told WealthBriefing.

A report by Citywire said such a move to wealth management was planned. However, a spokesman for Kaupthing Singer & Friedlander Capital Markets, to be renamed Singer Capital Markets, said it was not a player in the wealth management arena and did not intend to become so.  

“We don’t really have any asset management clients here,” the spokesman said.

The capital markets company is a separate entity from Kaupthing Singer and Friedlander, the investment management team of which has been bought by Evolution-owned Williams de Broe. KSF had been put into administration following problems at its Icelandic parent.