Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. Registration is free and only takes a minute.

Brooks Macdonald buys Jersey wealth firm DPZ Capital

Brooks Macdonald buys Jersey wealth firm DPZ Capital

Brooks Macdonald has bought Jersey-based wealth firm DPZ Capital Partners.

The wealth firm is paying an initial £5.7 million for the firm, funded through the £3 million in cash and £2.7 million in new shares.  

DPZ was founded in 2007 and controls around £430 million in assets and if all this money is successfully transferred to Brooks the acquisition price will rise to £10.8 million.

DPZ assets comprises £360 million discretionary and £60 million advisory, with the remaining £10 million run on an execution-only basis.

The buy fits with Brooks’ strategy to expand its international division, Brooks Macdonald International (BMI), which was acquired in 2012, and now employs 15 staff. It increases the firm's assets in the Channel Islands by 50%.

It will also open a new range of services to Brooks clients through DPZ's range of investment strategies founded on its core competencies: asset allocation, manager selection, fixed interest, credit investing, and equity selection.

Brooks intends to use DPZ's expertise to create a new fixed income proposition and a new platform team based on the success of DPZ's international MPS solution.  

Brooks chief executive Chris Macdonald (pictured) told the market: ‘This is a very exciting acquisition for the group in line with our strategy to expand our international division based in Jersey.

‘DPZ is a high quality asset management business that has strong investment management and cultural synergies with the group. As well as adding scale to our international business DPZ bring a highly talented investment management team and additional skills to expand our offering.'

DPZ chief executive, a former Wealth Manager cover star, Darren Zaman added: ‘We believe that by combining with BMI we will become part of the leading investment management business in the Channel Islands and look forward to contributing to a strong and fast-growing international investment business that will bring many benefits to our clients and staff.’

Last month Wealth Manager revealed that fellow DPZ cover star Rohit Ahluwalia had been recruited by Vestra to head its offshore investment solutions.   

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Investment Pulse: the highs and lows of 2014

Investment Pulse: the highs and lows of 2014

This week's Investment Pulse looks back at some of the biggest stories of the year as well as looking forward to 2015.

Play Inside ETFs: Why the US bull-run still has legs

Inside ETFs: Why the US bull-run still has legs

Global equities suffered a sharp sell-off in the third quarter but exchange traded fund investors are continuing to back the US to outperform in 2015

Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter