Ingenious Asset Management has completed the acquisition of Thurleigh Investment Managers in a deal that will boost the firm’s assets by £1.7 million.

Ingenious Asset Management has completed the acquisition of Thurleigh Investment Managers in a deal that will boost the firm’s assets by £1.7 million ($2.9 million).

The acquisition, which was announced last April, sees both firms combining their investment teams at Ingenious’s Mayfair-based offices in London.

“It has been great to see the two teams come together so well to ensure a smooth integration of our two businesses. With the deal complete, I now look forward to focusing on delivering the best possible services to clients, strengthened by our expanded knowledge and expertise,” said Guy Bowles, founder and chief executive of Ingenious Asset Management.

The transaction has been approved by the Financial Conduct Authority - the UK financial regulator.

Guy Bowles, founder and chief executive, will continue in this position. David Rosier will continue as chairman of Thurleigh. Charles MacKinnon, co-founder and chief investment officer of Thurleigh, will become part of the merged firm’s portfolio steering group which sets the investment strategy across the whole firm.

Among other examples of industry M&A was the recent move by Rathbone Brothers, the UK-listed wealth manager, to acquire two new divisions. It has bought Jupiter Fund Management’s private client and charity investment business and the London-based private client wealth business of Tilney Asset Management - previously owned by Deutsche Bank.