Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Cheviot Assets surged ahead of Quilter deal

Cheviot Assets surged ahead of Quilter deal

Cheviot Asset Management went into its merger with Quilter on the back of strong asset growth but declining profits.

According to the group’s full-year results posted at Companies House last week, the company posted a 15.7% rise in assets under management (AUM) from £3.6 billion to £4.2 billion in 2012, its last year as a standalone business.

Around half of the increase in AUM was due to ‘market movements’, with £315 million coming on the back of ‘significant new customer growth’, the accounts said.

This generated a 13% increase in revenue to £32 million, but profits fell by 16% to £233,000, which the group blamed on ‘volatile’ financial market conditions.

Cheviot AM was launched in 2006 by Michael Kerr-Dineen (pictured), with a team from UBS following him across.

The firm merged with Quilter in October last year and the deal was completed on 18 January 2013, creating a group with a combined AUM of £14.2 billion. The combined group adopted the Quilter Cheviot brand in July.

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 Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Play CIO Tapes: do investors have it as good as it gets?

CIO Tapes: do investors have it as good as it gets?

Citywire gathered three of the UK's leading fund investment heads to discuss what they fear and what makes them cheer about the year ahead

Read More
Your Business: Cover Star Club

Profile: Rathbone's Newcastle boss on the road to £1bn

Profile: Rathbone's Newcastle boss on the road to £1bn

Starting from zero assets on day one, Rathbone's Newcastle team now looks after just over £400 million in clients money

Wealth Manager on Twitter