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IFG completes £35m James Hay buy-out

IFG has today completed the acquisition of James Hay from Santander for a cash consideration of £35m plus an additional adjustable payment for net assets of £3.9m.

IFG chief executive Mark Bourke says: “IFG already has a significant presence in the self-administered pensions market through its subsidiary, The IPS Partnership plc.

“The acquisition of James Hay, with approximately 32,000 Sipps under administration, makes IFG the largest provider in the UK.

“Our strategic ambition is to be the best and biggest in the sector.”

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. Freddie Findlater 10th March 2010 at 10:52 am

    No mention of their intentions for the James Hay Wrap business….

  2. Or no mention of the job redundancies planned for staff.

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