Bestinvest is rebranding following its merger with Tilney, Deutsche Bank’s UK regional wealth management business, earlier this year.

Bestinvest is rebranding following its merger with Tilney, Deutsche Bank’s UK regional wealth management business, earlier this year.

The enlarged group will be renamed Tilney Bestinvest and operate under the brand Tilney for Intermediaries in the B2B market, Bestinvest said in a statement.

Private equity firm Permira, Bestinvest's owners announced it was purchasing Tilney from Deutsche Bank in February. The transactions, which are subject to regulatory approval, are expected to complete in June.

Tilney Bestinvest will have  400 employees and 100  client advisors and investment managers. The company will be led by chief executive Peter Hall, while Tilney for Intermediaries will be headed by Miles Robinson. Gareth Lewis, currently chief investment officer at Bestinvest, will lead the investment process. The overall business split will be 63 per cent discretionary, 17 advisory and 20 per cent execution only.

Tilney for Intermediaries will service clients of 250 UK financial advisors accounting for over £1.1 billion ($1.84 billion) of assets.

Earlier this year, this publication interviewed Bestinvest regarding its expansion plans in a post-RDR marketplace. For more on this story, click here.