Premier to pay £3m for private clients

Premier Asset Management is acquiring LeggMason Investors' private client discretionary business. Premier is to pay up to £3m for the £55.8m under management, subject to how much of this transfers across. It presently holds £100m in private client discretionary business. If every one of LeggMason's clients sign the management agreement, and all such funds are therefore transferred, Premier has estimated that its turnover could be increased by up to £780,00 before expenses in a full financial year. The transfer of assenting clients and their funds will take place with effect from 2 Januar...