The future of Murray Johnstone as an asset management house is uncertain after its US parent, United...
The future of Murray Johnstone as an asset management house is uncertain after its US parent, United Asset Management (UAM) was purchased by Old Mutual for $1.46bn. Old Mutual has already made it clear to Investment Week that it acquired UAM for its US presence and not for its ownership of the Scottish investment house. James Poole, director of investor relations at Old Mutual, said: "We haven't made an offer to buy UAM in order to get our hands on Murray Johnstone. We did it to buy into the US market. It just happens that UAM owns Murray Johnstone." Old Mutual said speculation that Murr...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes