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Brooks' FUM to hit £4.5bn on Arch Cru fund manager buyout
by Sarah Miloudi on Nov 16, 2012 at 07:37
'We look forward to welcoming Spearpoint's clients and staff to Brooks Macdonald. There is a good synergistic and cultural fit with our existing growth strategy and business.
'We are confident the combined group will be a leading presence in UK wealth management and that the acquisition will be immediately earnings enhancing.'
John Davey, chief executive of Spearpoint, also commented on the deal.
He said: 'We are delighted to be joining the Brooks Macdonald Group. There is a strong fit in terms of investment management style and culture.
'Brooks Macdonald's proven marketing and distribution and well established brand provide us with the tools to focus on growth.'
Spearpoint is also known for looking after the Arch Cru funds.
It took over management of the Arch Cru funds in December 2009, charged with a mandate of gaining as much value from investors in the wind-up of the funds.
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