EFG Private Bank, the London-based subsidiary of EFG International, has completed the acquisition of UK-based independent wealth manager Ashby London Financial Services.

The transaction, which was announced on 24 August 2007, was closed on 12 October following the granting of regulatory approval.

Ashby London is based in Wolverhampton and also has an office in Birmingham. It provides fee-based independent advice to individuals and businesses, covering investments, tax planning, pensions and employee benefits. It advises on clients’ assets of over £150 million on behalf of around 2,000 clients, and has 36 employees, of which 10 are involved directly in client relationships.