UK Private Client Group in Acquisition Talks

Christopher Owen

9 October 2007

AIM-listed UK regional stockbroker and private client group WH Ireland has confirmed that it has received a number of approaches regarding a potential offer for the company. The Manchester-based firm would not disclose which companies had made the approaches, but a Financial Times report said the Cheshire-based Formation Group, which specialises in financial and professional advice for footballers, had withdrawn from the most recent round of talks. Formation's wealth management arm is branded Kingsbridge Asset Management. WH Ireland is one of the largest independent regional stockbroking houses in the UK and has had a presence in Manchester for over 100 years. The company now has offices in London, Blackburn, Cardiff, Colwyn Bay, Lancaster, Leeds, Malvern and Birmingham, as well as an Australian subsidiary in Perth and Melbourne. As at 31 May 2007, total funds under management and control were £1.5 billion ($3 billion).