UK Wealth Manager Buys City Firm, Adds AuM

Tom Burroughes

2 October 2020

The UK firm , a London business with more than £2.0 billion ($2.6 billion) of assets under management, lifting 7IM’s AuM to about £17 billion. The deal is part of continued M&A activity in the European wealth sector.

7IM (aka Seven Investment Management) was founded in 2002 and has more than 350 staff – it is majority-owned by Caledonia Private Capital. PWM, meanwhile, was founded in 2004 and is based in London’s City financial district. In total, the enlarged business will have 400 staff.

As part of the deal, PWM, which is headed up by David Stoll, senior partner and James Roberts, managing partner, will continue to operate as an independent company from 7IM, retaining its brand, identity and leadership. However, the deal will see the integration of some back-office functions, with PWM also using 7IM’s technological capabilities.

“Since conducting a firm-wide strategic review last summer, our intention has been to accelerate the growth of the business, knowing that this would come both organically and inorganically. This acquisition helps both 7IM and PWM take their next steps in their respective strategic growth plans,” Dean Proctor, 7IM’s chief executive, said.

Among recent wealth management M&A deals, .