View more on these topics

BNP Paribas acquires multi-manager IMS group

BNP Paribas Investment Partners has acquired London based multi-manager IMS Group.

The move will see IMS’s £5.1bn assets under management and advisory joining BNP Paribas’s FundQuest multi-manager brand creating total assets under management of £37bn.

The combined business will comprise of over 210 employees including 48 investment professionals operating on a global basis in Boston, London and Paris.

IMS managers Richard Timberlake and Peter O’Connor will continue to be actively involved in the investment management of IMS and stay on as directors.
Anthony John will remain as chief executive of IMS and report to Michel Anastassiades, global head of FundQuest.

BNP Paribas IP head Gilles Glicenstein says: “This acquisition is a new step in our multi-specialists strategy, as it reinforces our ability to deliver comprehensive and innovative solutions to existing and new clients anywhere in the world.

“The UK market remains a priority for the development of BNPP IP, and with this alliance FundQuest gains momentum as a global multi-manager and open architecture services provider, a market that is expected to grow by nearly 20 per cent a year.”

Recommended

A letter to mortgage brokers

Dear IntermediaryFor all of us working and advising in the mortgage market, we have now experienced a significant series of events that completely changes how we are and how we will be doing mortgage business in the future.With this in mind, at a recent conference where the major mortgage distributors were in attendance, we thought […]

Friends rebuffs 3.5bn Flowers’ bid

Friends Provident has rejected a 3.5bn offer from private equity group JC Flowers, saying it “significantly undervalues” the company.

An upturn in Fortune

Fortune Group, the fund of hedge funds subsidiary of Close Brothers, has seen a 64 per cent increase in assets under management over the last 12 months to £700m.

Accord withdraws fixed rates

Accord has withdrawn some prime fixed rate products and says not all products will be replaced.It also says that replacement products will not be immediately available.It will be withdrawing its three year and five year fixed rates with a 1.5 per cent fee.It will also be withdrawing its three and five year fixed rate remortgage […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment