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Cobalt buys up Square Mile Finance

The deal marks the latest chapter in Cobalt’s growth and it is likely to continue on the acquisition trail. Last November, it became one of the founding members of broker alliance Concordia.

The Square Mile name will continue as a brand and its day-to-day running is unchanged.

Cobalt managing partner Julian Ingall says: “It has been no secret that we have been looking at acquiring top quality businesses for a while and they do not come any higher in quality than Square Mile. We are proud to acquire such a highly regarded business.”

Square Mile managing director Andy Wilgoss says: “This is a superb deal all round. After restructuring the Square Mile shareholding in 2005, we have achieved our plan to grow the company while driving profitability.”


Nationwide rethinks intermediary team

Nationwide is set for a major restructure of its intermediary mortgage top brass in a move it says will enhance its service to brokers.Head of intermediary markets Tim Hughes will move the society’s savings division in April. His duties will be taken over by current internal audit director Peter Leydon, who will become divisional director […]

Muirhead backs Dampier on allocation

Sifa managing director Ian Muirhead has defended Hargreaves Lansdown head of research Mark Dampier’s comments on asset allocation, claiming that advisers do not have the expertise to make any geographic calls.Muirhead says advisers should not try to construct portfolios like fund managers as they lack the expertise to predict markets and should stay with the […]

Food for thought for Close

Close Investments has introduced the imperial pub company enterprise investment scheme, an EIS looking to raise up to £8m.


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