Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of 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 JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: 'new normal' now is as dangerous as when it was applied to tech

Profile: 'new normal' now is as dangerous as when it was applied to tech

7IM's CIO Chris Darbyshire says he has been re-energised by his new role, but has little time for 'new normal' doom-mongers

Wealth Manager on Twitter