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Newton acquires Henderson subsidiary

Mellon subsidiary Newton has acquired Henderson Private Asset Management for an undisclosed sum.

The deal, which both companies expect to complete in August, will raise Newton&#39s private client and charities funds under management by 25 per cent to around £5bn from £4bn.

HPAM manages around £930m of funds on a discretionary basis for 1,000 high net-worth clients, private trusts and charities. All its staff are expected to transfer to Newton during the third quarter of the year.

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