Brooks Macdonald completes Lloyds' offshore wealth business acquisition

Deal was announced in June this year

clock • 1 min read

Brooks Macdonald has announced the completion of the acquisition of Lloyds Bank International’s Channel Islands wealth management and funds business by its subsidiary Brooks Macdonald Asset Management.

The transaction was initially announced on 24 June 2020 and has now received all the necessary regulatory permissions. Brooks Macdonald said the acquisition "further transforms the international business", bringing an increase in international funds under management (FUM) of around £900m and an additional 1,000 private clients, as well as a 6.5% increase in the group's pro forma FUM to over £14.5bn. In addition, the two companies intend to conclude a mutual referral agreement, under which Brooks Macdonald International will introduce clients "where appropriate" to Lloyds' internationa...

To continue reading this article...

Join Professional Adviser

  • 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.

Join

 

Already a Professional Adviser member?

Login

More on Companies

B Corp certifications up as 58 UK investment firms join ranks

B Corp certifications up as 58 UK investment firms join ranks

More than 1,000 businesses attain B Corp certification including 58 investment firms

Kathleen Gallagher
clock 14 November 2022 • 2 min read
M&G Recovery and M&G Absolute Return Bond funds were rated unsatisfactory

Two thirds of M&G AUM fails to meet performance expectations

95.8% deemed to deliver value overall

Elliot Gulliver-Needham
clock 01 August 2022 • 1 min read
Kingswood acquires Hampshire IFA in sixth deal of the year

Kingswood acquires Hampshire IFA in sixth deal of the year

‘Reinforces our presence in Hampshire’

Ayesha Venkataraman
clock 01 August 2022 • 2 min read