M&A

Wealth manager the Beaufort group has poached Sanlam head of partnerships Oliver Couchman to head its distribution team.

Wealth manager European Wealth has raised £2m towards its planned acquisition of IFA ISM Solutions.

Northern Ireland-based wealth manager Davy Private Clients UK has acquired financial adviser and investment firm Graham Corry Cheevers, adding £230m of assets to its books.

National wealth manager and consolidator Bellpenny has acquired two IFA firms with a combined £84m funds under management (FUM).

Wealth manager Towry has completed the buyout of rival firm Ashcourt Rowan.

Royal London's former offshore business RL360 Group has acquired international life business Clerical Medical International (CMI) from Scottish Widows, creating a business with £8bn of assets under management.

Tavistock Investments has acquired Cornwall-based IFA Duchy Independent Financial Advisers as part of its plan to assemble a national network of advisers.

Pioneer Investments has reached an agreement to merge with Santander Asset Management, creating one of the largest European asset management groups by AUM.

Wealth manager Towry has been forced to spend a further £3.7m to deal with issues the regulator has with the business, following a quadrupling of the expenditure last year.

Royal Dutch Shell has agreed to buy BG Group for £47bn in one of the largest deals of all time.