Interactive investor has completed the process of buying TD Bank's European direct investing business, bringing its total assets under administration (AUA) to £21bn.
Last October, the company announced its plans to buy TD Bank's direct investing business through the acquisition of its UK-based arm TD Wealth Holdings and Luxembourg-based TD Bank International, collectively known as TD Direct Investing (TDDI). The acquisition was financed through an investment from funds help by investment firm J.C. Flowers & Co, which as a result hold a majority stake in the combined business. Interactive Investor's existing shareholders that are participating in the transaction also become shareholders in the combined company. The combined group will transition...
To continue reading this article...
Join Professional Adviser
Signup and gain exclusive members-only insights
- 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.
