Schroders has announced its intention to acquire River and Mercantile Group’s (RMG) UK solutions business for approximately £230m, with CEO James Barham set to transfer as part of the deal to lead the business at Schroders and take on a broader management role.
The transaction is expected to complete in the first quarter of 2022, subject to RMG shareholders' and regulatory approval. Upon completion, Alex Hoctor-Duncan will succeed Barham as CEO of RMG, and will join the board on 29 November as previously announced. RMG has said it intends to refocus as a specialist asset manager, and to diversify and grow its investment capability, product range and geographic exposure, with specific plans to create a broader range of equity products, and in-demand alternatives and private market products. Barham said: "We have worked hard during this pro...
To continue reading this article...
Join Professional Adviser for free
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
