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Clydesdale IM business acquired by Tilney

Tilney Investment Management is taking on the management of Clydesdale Banks discretionary investment management business.

The sale, for an undisclosed sum, is due to complete this spring and will see Tilney becoming the preferred provider of discretionary services to Clydesdales customers. The deal will attract 1500 new clients with investment worth 300m, taking Tilneys assets under management in Scotland to 1.5bn and overall to 6bn.

Tilney chief executive David Campbell says: This deal further demonstrates our substantial commitment to Scotland, following our acquisition of Edinburgh Fund Managers private clients subsidiary in June, 2003.

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