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.

Deutsche confirms Tilney wealth sale to Permira

Deutsche confirms Tilney wealth sale to Permira

Deutsche Asset & Wealth Management (DeAWM) has confirmed that it has agreed to sell the regional business of Tilney, a subsidiary of its wealth management business in the UK, to a company controlled by the Permira funds.

Tom Slocock, head of wealth management in the UK for DeAWM, said: 'Deutsche Asset & Wealth Management will continue to focus on providing wealth management services from our London office. We are expanding the range of high quality solutions we offer wealth management clients and their families.'

Permira will acquire the Tilney businesses in Birmingham, Edinburgh, Glasgow and Liverpool. The transaction is expected to be completed by the end of the second quarter of 2014.

The financial terms have not been disclosed.

Tilney will be combined with Bestinvest, which is also being acquired by Permira, subject to completion of the transactions.

Slocock (pictured) added: 'Tilney has a long and proud history of helping its clients manage their wealth. I am pleased for the team and its clients that Bestinvest and the Permira funds will support the business through the next phase of its development.'

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 Taxicab Tenner: AXA IM's Nicolas Trindade

Taxicab Tenner: AXA IM's Nicolas Trindade

After a summer break, it is the turn of AXA Investment Manager's Nicolas Trindade to give a £10 view of how fixed income is faring.

Play Wealth Manager Olympics: the Relay

Wealth Manager Olympics: the Relay

In the final round of the Wealth Manager Olympics, our intrepid athletes team up for the relay.

Play Wealth Manager Olympics: the Shot Put

Wealth Manager Olympics: the Shot Put

After busting a gut in the 100m sprint, our wealth manager Olympians displayed their brute strength in the shot-put.

Read More
Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter