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Collins Stewart acquires Corazon Capital

Collins Stewart Wealth Management has acquired Guernsey-based investment manager Corazon Capital Group.

Corazon has £382m assets under management with operations primarily in the Channel Islands and Switzerland. 

The resulting enlarged Collins Stewart Wealth Management business will have in excess of £6bn of assets under management and over 60 investment professionals in the Channel Islands. 

CSWM revealed net inflows for the year of £332m and an annualised organic growth rate of 6.8 per cent as at December 31.  The firm hopes to achieve £10bn under management by 2012.

Head Neil Darke says: “I am delighted that our previously stated three-pronged approach to growing our business has delivered a strong set of results.  The strong organic growth rate is starting to affect previous investment whilst we have further boosted the business through some key recruits.”   

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