Alliance Trust Savings has sold its £3bn Full Sipp book to Curtis Banks.
The deal, which is expected to be completed by the end of the year, will see almost 6,000 Sipps transferred to Curtis Banks. ATS will continue to operate in the Sipp market through its Select Sipp offering.
ATS says all staff in the Dundee and London offices will be retained as part of the arrangement.
Curtis Banks managing director Rupert Curtis says: “This is a quality book of business and our retention of staff and processes will ensure ‘business as usual’ whilst providing a strong foundation for future development.”
ATS managing director Patrick Mill (pictured) says: “One of our main concerns when considering the sale of this business was to ensure that our customers and staff experienced minimal disruption.
“We worked hard to ensure that all staff will be retained from both the Dundee and London offices and that Curtis Banks’ commitment to this market will ensure our customers continue to receive high levels of service going forward.”