Towry group chief executive Andrew Fisher has hired STJ Advisors to prepare the firm for a float.
The Sunday Times reports that Towry could be valued at up to £500m, qualifying it for the FTSE 250 and valuing Andrew Fisher’s stake in the company at £100m.
Fisher (pictured) told the paper that valuation “feels a bit light” but added that he had no intention to sell any of his 20 per cent stake were the firm to be listed.
Last year Towry made a profit of £6.4m and currently has £4bn under management.
Towry announced last week that it was closing the accounts of its 6,000 smallest customers with less than £5,000 in assets, saying the service it offers those clients is not cost-effective.