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Morningstar acquires Old Broad Street Research

Morningstar UK has acquired Old Broad Street Research (OBSR) for £11.95m, subject to post-closing adjustments.

Richard Downs and Richard Romer-Lee, the co founders of OBSR, will continue to lead the business with Nigel Whittingham who joined from Insight in 2007.

The new subsidiary will be called OBSR, a Morningstar company. In a statement, Downs, the managing director of OBSR, says: “The investment and advice world is changing, particularly with the introduction of the Financial Services Authority’s Retail Distribution Review. “As part of Morningstar, we will be able to leverage its core skills in research, design, technology, and data to develop a best-in-class solution that builds on our experience in this area.” (article continues below)

OBSR was established in 1999 after Downs and Romer-Lee bought the research business of Buck Investment Consultants.

Don Phillips, the president of fund research for Morningstar, says: “OBSR’s expertise in research and analysis, along with its complementary investment consulting capabilities, will allow us to better serve our clients.”


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