Both the number and size of mergers and acquisitions (M&A) deals in the UK wealth and asset management industry fell during 2023, new data shows.
Audit giant EY today (16 January) said its findings have pushed total deal value across the whole of the financial services market to a nine-year low. Specifically, the value of deals completed in wealth and asset management last year has more than halved, totalling just £2.1bn year-on-year compared with £5.6bn in 2022. A total 107 deals were agreed in 2023 while 132 deals were finalised the year prior. EY also noted the number of non-UK firms making acquisitions has fallen, as has the number of UK firms inking international deals. UK financial services strategy and transactions...
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