Towry increases AUM 29% to £4.5bn

Towry has increased its assets under management to £4.5bn in the first half of 2011, an increase of 29 per cent from £3.5bn in the first half of 2010.

The firm also saw a 47 per cent increase in earnings before interest, taxes, depreciation and amortisation which rose to £9.4m from £6.4m in the same period in 2010.

The firm says it has signed a new four-year revolving credit facility on June 30.

Towry recently appointed Gerald Corbett and Sally James as non-executive directors.

Towry chief executive Andrew Fisher says: ‘The first half of 2011 has been a further period of growth for Towry and we look forward to the second half as we retain our ambition and conviction of becoming the leading firm of wealth advisers in the UK.”