James Hay acquisition approved by regulators

Dublin-based IFG Group, which owns The IPS Partnership in the UK, announced it had reached an agreement to buy Santander's SIPP operation in December last year. The FSA and the Jersey Financial Services Commission have both now approved the change of ownership. New ordinary shares will begin dealing on the Irish Stock Exchange between 10 and 15 March. IFG says it will use the £35m acquisition to expand its UK SIPP offering. Eventually it plans to combine the firm with The IPS Partnership under the James Hay brand.