FCA approves Embark's acquisition of EBS Management

The initial £2m deal, which takes Embark's assets under administration (AUA) to £10.96bn, leaves the retirement solutions provider as the 100% owner of EBS, including its wholly-owned subsidiaries Alpha Trustees, EBS Pensioneer Trustees and EBS Self-Administered Personal Pension Plan Trustees. Embark Group CEO Phil Smith (pictured) said the regulatory approval would enable the company "very quickly" to complete the acquisition, which was announced earlier this month. "As a business, we were very pleased by the speed of the FCA's handling of the matter," he said. "The regulator often g...