Rathbones in 'exclusive' merger talks with Smith & Williamson

The paper said Rathbones was in discussion with its smaller rival about an all-share tie-up. It said market sources placed the value of Smith & Williamson at between £500m and £600m.  Rathbones manages more than £36bn of client assets. The paper said the combined company would have more than 3,000 staff across the UK.  Rathbones is being advised by J.P. Morgan and Royal Bank of Canada on the merger. Smith & Williamson has hired Evercore. The potential merger was first reported by Sky News.