Speculation is growing about the future ownership ofAWD Chase de Vere, with a number of suitors thought to be interested in taking over the adviser company.
Swiss Life made its offer for parent company AWD Holding AG for £824m in December and the deal is due to be accepted this week. SwissLife statements have consis-tently excluded the UK from its future strategy.
A range of potential buyers have been mooted for the 450-adviser firm, including Axa, Towry Law and private equity firms possibly looking at the IFA sector.
AWD UK group chief executive Mike Kirsch says: “I am well aware there has been constant speculation about the future of AWD in the UK for many months now and this has inevitably increased as a result of the acquisition of AWD Group by Swiss Life.
“As far as I am concerned, the business is not for sale and we are continuing with our strategy to build AWD Chase de Vere as one of the leading advice businesses in the UK.”
Swiss Life chief executive Rolf Dorig said in January: “As a key product partner for AWD, Swiss Life will receive additional distribution resources in Germany and Switzerland.
“In addition, AWD provides Swiss Life with access to the Austrian market and the growth markets in Central and Eastern Europe.”