The Rothschild Group has confirmed the sale of its Rothschild Asset Management (RAM) business to HBO...
The Rothschild Group has confirmed the sale of its Rothschild Asset Management (RAM) business to HBOS's Insight Asset Management for £61m, resulting in the transfer of £10bn in assets under management.
Insight took up the option of not buying RAM's Japan and Singapore funds business, which leaves about £1bn worth of assets to be integrated into Rothschild's future private banking plans.
The deal takes Insight closer to its goal of becoming the UK's fifth largest asset manager.
Rothschild says the deal was needed to help it move towards creating a single global private banking company out of its various separated businesses.
Despite improved risk appetite
FOS award limit increase
Relates to 136 million transaction reports
Ceremony will take place 13 November