The deal will see Waverton absorb 2CG's European Capital Growth, European Income and Southeast Asian Focus Funds.

Chris Garsten and Charles Glasse, who have worked together at 2CG since 2000, have invested in European equities since 1990, having formerly worked at Credit Suisse and M&G respectively. Brook Tellwright, who manages the Southeast Asian fund, started working in Asia in 1993 whilst at Cazenove.

“I am delighted to welcome the new team to Waverton and am confident that their expertise will further strengthen Waverton’s European and Asian equity offerings and that we will be a good ‘home’ for 2CG Senhouse’s existing clients,” said Andrew Fleming, chief executive of Waverton.

Waverton, which serves private individuals, trusts, charities, and institutions, had around £4.5 billion ($6.4 billion) of assets under management as of the end of 2015. 2CG Senhouse's clients include wealth managers, high net worth individuals, family offices and institutions. The firm is employee-owned.