Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at

Ashcourt's Polin: why we bought UKWM

by David Campbell on Dec 13, 2013 at 10:19

Ashcourt's Polin: why we bought UKWM

Ashcourt Rowan’s purchase of corporate benefit and discretionary group UKWM will ‘significantly enhance’ its long-term push into pensions, says chief executive Jonathan Polin (pictured).

He added that there was some ‘small overlap’ between the two businesses, alongside significant synergies. He declined to comment on the potential for job losses.

‘Most of the overlap is in operating systems, IT structures, investment processes and obviously some senior executive roles – you can’t have two chief investment officers, for example.

‘The genesis of both companies has been in the acquisition of over-managed businesses, and [we] have similar propositions – the management of both companies believe the future will be about scale.’

Key to the appeal is the company’s regional network, with five offices across the north west of England and Scotland, where the company has previously not had exposure, he added.

The acquisition is expected to be earnings enhancing within the first year. Both companies use the Avaloq back office system, allowing for a fairly straightforward integration and cost savings.

Once completed, Ashcourt Rowan’s recurring income will rise to 70% of revenue. It will also take the company ‘significantly closer’ to its long term target of a 25% profit margin, he added.

‘We will have a fully-formed corporate solutions business, bringing together two pensions business and able to gain scale. We have seen a huge amount of auto-enrollment business [already].

‘We have got the workable scale on our platform to offer significant opportunities. You only have to look at the lack of competition in the current market.

‘And of course it is not just about the corporate pensions side, we have then got a platform to offer our financial advice to executives, and our ISA management.’  

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home

As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

Sponsored Video: Barings on investing in Frontier Markets

From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.

More about this:

Look up the shares

  • Ashcourt Rowan PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them


On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet