Interactive Investor (ii) has completed its £40m acquisition of Alliance Trust Savings (ATS) from Alliance Trust, after receiving the necessary regulatory approvals.
The completion of the acquisition, which was first announced in October 2018 and included the Alliance Trust office building in Dundee, brings together the two largest fixed-price retail investment platforms with combined assets under administration (AUA) of £36bn and some 400,000 customers. Describing the completion of the acquisition as "an important milestone", ii chief executive Richard Wilson said: "This cements our position as the market challenger in the UK direct-to-consumer marketplace and adds essential scale to support the ongoing technology and talent investment needed to dri...
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