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.

River & Mercantile IPO targets £12m

River & Mercantile IPO targets £12m

River & Mercantile has confirmed its plans to float in a move which the asset manager expects to raise £12 million of new money.

The IPO plans follow River & Mercantile's merger with PSolve earlier this year with the combined group having £8.4 billion of assets under management in its equity division and £8.5 billion in its derivatives business, generating £51.8 million of revenue in 2013 on a pro forma basis.

R&M said management will be locked in for two years following the float and said coming to market will provide better access to the capital markets and help it incentivise key staff.

The group, led by chief executive Mike Faulkner, announced the hire of former Cazenove Capital Management distribution head Robin Minter-Kemp (pictured) as a non-executive director last month and he will be joined on the board by fellow non-execs Jonathan Punter, Mark Johnson, Angus Samuels and Angela Crawford-Ingle.

Faulkner said: 'In an evolving investment industry, the group is well positioned to exploit the “pensions revolution” in which governance is increasingly a critical attribute of the client’s investment strategy. Our business represents a high growth, strong margin, diversified investment opportunity. This is underpinned by long-term client relationships, an experienced management team and a strong performance track record in equities and fiduciary management.

'Our investment performance, combined with a culture of innovating services to meet the evolving needs of our clients, leads to high client satisfaction levels and recurring revenues. We believe that our focussed growth strategy, together with our operational gearing, strong cash generation and scalable business model should deliver long-term positive returns to shareholders.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
CIO Tapes 2: two warnings and a lot of optimism

CIO Tapes 2: two warnings and a lot of optimism

Our group of leading asset management CIOs see a lot of opportunities – and overseas investors are buying UK too

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.

Read More
Your Business: Cover Star Club

Profile: Thomas Miller explains its post-restructure plans

Profile: Thomas Miller explains its post-restructure plans

Thomas Miller Investment’s (TMI) head of wealth Matt Phillips has strong opinions about many things

Wealth Manager on Twitter
Managing risk, unearthing returns
  • A-rated Beagles sells down Brewin Dolphin
  • Electoral Commission reopens Vote Leave probe
  • City grandee says HBOS crisis 'worst moment' of his career
  • Ex-OMGI duo enters model portfolio market with new boutique
  • Abolish stamp duty: six wealth managers' Budget wish lists
  • James Carthew: is the Japanese glass half full, empty, or illusory?
  • The Expert View: William Hill, Mitie and Xaar
  • Overnight Markets: Tech shares buoy Wall Street
  • Tuesday Papers: May told to exploit Merkel crisis to reduce Brexit bill
  • Investors brush off German government worries
  • Buy-to-let crackdown? Charles Stanley's 5 Budget calls
  • Brewin Dolphin's south west assets hit £1bn
  • Wealth Manager Top 100 2017: seven hidden fund talents to watch
  • Read More
    -->