SLC Asset Management (SLCAM) is to rebrand under the Credit Suisse Asset Management (CSAM) name...
SLC Asset Management (SLCAM) is to rebrand under the Credit Suisse Asset Management (CSAM) name during the first half of next year. The move comes following CSAM's acquisition of SLCAM from global insurer Sun Life Financial of Canada.
The transaction is still subject to regulatory approval but stands to bring SCAM's assets under management to around £11bn. The acquisition also includes parent related insurance assets, third-party institutional and retail funds. CSAM will gain over 500 institutional clients in both pooled and segregated portfolios as well as a wider network of consultant relationships.
Institutionally, the move gives CSAM a major UK participant in the corporate pooled pension fund business. The acquisition also includes a property investment business with around £0.8bn in funds.
Phillip Colebatch, global chief executive officer at CSAM, commented: "This is a strategic acquisition for CSAM in that it significantly strengthens CSAM's position in the largest pension and retail funds market in Europe, brings us a set of new client and consultant relationships and gives us a stronger platform from which to leverage our global capabilities in the UK."
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till