View more on these topics

DDM rebrands as Corazon after MBO

Dawnay Day Milroy has completed its management buyout and will now trade as Corazon Capital Management.

The Channel Islands inv- estment manager has cut ties with Dawnay Day after a five-year affiliation.

DDM, which has £600m of assets under manage- ment, was founded in 1997 by Robert Milroy. It signed a licensing agreement in 2002 to use the Dawnay Day name but remained managed and owned from the Channel Islands.

Half the company was previously owned by the management and the remaining 50 per cent stake was held by private sharehold- ers and investors in the Channel Islands.

The buyout of the remaining shareholders is being led by Milroy and joint managing director Paul Meader, with funding from the management team.

Corazon says it plans to focus on long-term expansion which includes open- ing a new office in Geneva and launching a series of new products.

Co-managing director Robert Milroy says: “Our ability to execute a management buyout at this time when markets have been in such turmoil is testament to the stability created by an absolute return approach to investing. We have preserved and enhanced capital over the bear market cycle and, in so doing, created strength in our business and value for clients and stakeholders alike.”

Recommended

Silence on Equitable report

The FSA refused to answer questions about the Parliamentary Ombudsman’s damning Equitable Life report at the meeting, citing legal constraints as the reason for the silence.

HBOS sees net mortgage lending drop to 7%

HBOS has seen its net mortgage lending drop to 7 per cent in the first half of 2008 as it also reveals its profit after tax plummeted 56 per cent to £950m from £2,139m last year.

Time to stop the salami slicing on tax relief

Steve Webb  – Director of Policy and External Communications As the Autumn Statement approaches, Steve Webb calls for the Government to stop tinkering with tax relief. Twice a year, in the run-up to the Spring Budget and the Autumn Statement, we face a torrent of speculation as to what changes the Chancellor might make to […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com