View more on these topics

Investec to acquire 47 per cent share in Rensburg

Investecs private client subsidiary Carr Sheppards Crosthwaite is to buy 47.7 per cent of Rensburgs shares, making the UKs seventh largest private client manager with 10.3bn funds under management.

The new firm will be called Rensburg Sheppards.

Investecs interest in Rensburg was first announced on 10 December, 2004. But in January Rathbones made an offer for Rensburg which was rejected. The new Investec offer will lead to fewer shares being issued, with 60m being raised through subordinated debt.

The offer is thought to attempt to allay concerns that Rensburg will lose control to Investec. Based upon the price of 500p per ordinary share for Rensburg, the acquisition values Carr Sheppards Crosthwaite at approximately 188m.


Aifa calls for fee for suite advisers

Aifa is warning that product providers and IFAs may still need a higher initial charge to make it worth their while selling the Sandler stakeholder pension.

Bank of Ireland reviewing sale of Bristol & West branches

Bank of Ireland is looking into the non-mortgage elemets of Bristol & West with plans to shed its 97 branches.In a review of its UK businesses, it has received expressions of interest in respect of its physical branch network and associated deposit base.It is believed Alliance & Leicester is in the frame to buy the […]

Axa’s Protection Account available through Burns Anderson and Threesixty

AXA has announces its Protection Account is now available through new distribution partners Burns Anderson and Threesixty services. In addition, it will be available through member firms of Berkeley Berry Birch by the end of March. Axa’s Protection Account is already available from Bankhall, Britannia Building Society, LifeSearch, Millfield, Sesame and Tenet, as well as […]

Investment view

As the Isa season draws to a close with the end of the tax year, thoughts are turning to the big themes for IFAs in the coming months.


News and expert analysis straight to your inbox

Sign up


    Leave a comment