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 for free

  • 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

Aberdeen adviser net outflows fall but 'work to be done'

Aberdeen adviser net outflows fall but 'work to be done'

Q1 2025 AUMA and flows trading update

Jen Frost
clock 30 April 2025 • 2 min read
Quilter CEO warns of revenues and profitability 'headwind'

Quilter CEO warns of revenues and profitability 'headwind'

Latest to report April assets slide amid tariffs volatility

Jen Frost
clock 23 April 2025 • 3 min read
Aviva £450m preference shares cancellation gets shareholder green light

Aviva £450m preference shares cancellation gets shareholder green light

Court hearing set for May

Jen Frost
clock 15 April 2025 • 2 min read