Seven Investment Management is to acquire Edinburgh-based discretionary asset manager Tcam Asset Management for an undisclosed sum.
The merged firm will have £13.6bn of assets under management and will have offices in London, Edinburgh and Jersey.
Tcam co-chief executives Alex Montgomery and Haig Bathgate will become partners and investors in 7IM and will join its management committee.
Several of Tcam’s senior team members will also become partners in 7IM.
7IM says the Tcam brand will continue in the near term with the combined business operating under the 7IM brand by the end of 2018.
7IM chief executive Tom Sheridan says: “The combination of 7IM and Tcam is a great fit, both commercially and culturally. The two businesses have complementary strengths which will produce an improved investment service for our customers.
“I am delighted that Haig and Alex are joining the 7IM management team who, along with the wider Tcam team, will add to our active management expertise whilst the Tcam Private Office will be appealing to both 7IM’s intermediary and direct clients. This also significantly deepens our presence in Scotland.”
Earlier this week 7IM announced it has become a pension provider with the launch of a Sipp on its platform.