Rathbones Group and Investec have entered into an all-share combination of Rathbones and Investec Wealth & Investment to create a £100bn discretionary wealth management business.
The businesses said the combination brings together two of the biggest wealth management businesses in the UK with "closely aligned cultures and operating models and a shared commitment to client-centric values and sustainable growth". Rathbones said the combination represented a significant "value creation opportunity" for both Rathbones and Investec Group shareholders. Rathbones chair Clive Bannister said: "Bringing Rathbones together with Investec W&I UK will create the UK's leading discretionary wealth manager with approximately £100bn of funds under management and administration....
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