View more on these topics

Rathbones buys Jupiter and Tilney private client arms for £57m

Rathbones has agreed separate deals worth a combined £57m to buy Jupiter’s private client business and Tilney Investment Management’s London private client arm.

Rathbones has agreed sale prices of £43.1m for Jupiter’s private client business and £14.3m for the Tilney business.

Jupiter’s private client assets under management currently account for 7 per cent of the group’s total £31.7bn under management, with 30 per cent of its private client assets held in its own funds.

The deal with Jupiter is subject to a minimum of £32m but is expected to reach £43.1m, assuming Jupiter’s £2.1bn in private client assets is transferred in full to Rathbones.

The deal is expected to boost Rathbones’ funds under management by 12.7 per cent to £24.8bn. 

Jupiter’s private client team will transfer to Rathbones under the deal.

Rathbones’ agreement with Tilney is expected to be completed in June. It follows the sale of Tilney’s Birm-ingham, Edinburgh, Glasgow and Liverpool businesses in February to  Permira funds.

Rathbone Brothers chief executive Philip Howell says: “We welcome the clients and investment teams of Jupiter and Tilney London. We expect to see more acquisition opportunities in the private client industry in the short to medium term.”

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