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.

European Wealth lists on AIM with £16.6m market cap

European Wealth lists on AIM with £16.6m market cap

European Wealth has completed the reverse takeover of its parent group and this morning began trading on AIM.

Last month, the wealth management firm announced it was to acquire its listed parent EW Group for £7.1 million in a move which it believed give it a more efficient structure ‘through which to raise growth capital’.

The company has been renamed European Wealth Group Limited, headed by chief executive Rod Gentry (pictured), and comes to market with a market cap of £16.6 million.

EW Group was founded in 2004 as a private equity vehicle. In April 2012 it acquired a 33% stake in European Wealth, which it subsequently increased to 49% in March 2013.

Since the original investment in 2012, European Wealth has grown its funds under management from £150 million to more than £710 million.

Executive chairman John Morton said: ‘We are delighted to have completed the transaction. As a business, European Wealth was conceived, structured and developed in a post RDR landscape and as a consequence has been able to experience significant growth, with a four fold increase in funds under management and influence over the last two years. The improved access to capital markets that the AIM listing now brings will certainly help maintain that momentum.

‘We envisage an important part of our growth continuing to come organically as a result of the service-centric approach we bring to clients and staff. We also look forward to further acquisitive growth through the successfully integration into the group of small and medium sized wealth management and financial planning firms that are being unduly impacted by RDR and the increased regulatory and compliance requirements being placed upon them.’

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