Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration 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 Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter