View more on these topics

Rathbones buys Taylor Young IM and sets out £24m acquisition growth plans

Rathbone Brothers plans to raise £24.2m through an institutional share placement as part of plans to grow the business through acquisitions.

The private bank and investment group also announced the acquisition of private client business Taylor Young Investment Management, for a sum which could rise to £15m. It is not subject to the share placing.

The private client investment management business, which has funds under management of £337m, has been acquired by subsidiary Rathbone Investment Management.

The acquisition will see Taylor Young’s investment management team, led by Peter Thomson, join Rathbones and will raise Rathbones funds under management by 2 per cent to £17.7bn.

Rathbone Brothers chief executive Andy Pomfret says: “We expect to see more acquisition opportunities in the private client industry in the next few years.

“Raising capital now will give us the flexibility to take advantage of these opportunities as they arise and help us provide more fully-secured loans to our clients.”

The issuance of 2 million shares will represent approximately 4.3 per cent of its £559, market capitalisation. The fundraising will also be used to provide loans for existing clients.



Martin Werth: Fresh thinking needed to stem decline

New protection business adjusted for RPI as % of 2003 This graph is important, as it effectively shows that the protection industry has matured. Total new premiums are 56 per cent of their 2003 level, adjusted for RPI, in part driven by the economic climate and fewer mortgage transactions. Whilst new policy count has followed […]

Yorkshire and Clydesdale banks’ mortgage business up 10%

Clydesdale and Yorkshire banks saw mortgage business between them increase 10 per cent from £13.6bn to £15bn in the year ending 30 September. The full year results for parent company National Australia Bank, published last week, show average gross loans and acceptances for the UK banking divisions rose 1.8 per cent, from £33bn in September […]


MM leader: FSA pension deficit call says it all

The FSA’s decision to push most of the burden of its £107m pension deficit onto firms regulated by the Financial Conduct Authority reveals a great deal about its mindset. Last week the regulator proposed responsibility for its pension deficit should fall mainly on FCA-regulated firms, such as advisers, rather than the banks, building societies and […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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