Welcome to our new website! Let us know what you think..

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Royal London's £219m Co-op buy gets regulatory green light

The Prudential Regulatory Authority (PRA has approved Royal London's acquisition of the Co-operative Banking Group's fund management and life insurance businesses.

The news comes after 95% of members at a Royal London extraordinary general meeting held in June approved the £219 million purchase.

The deal, which was announced in March, is expected to go through before the summer is out. It will increase Royal London's customer base by around 2 million and its funds under management from £50 billion to £70 billion.

The Co-op is selling the businesses in bid to bolster is capital position amid growing regulatory pressure.  

Leave a comment
Citywire TV
Play Gervais Williams: the real reason to worry about Quindell

Gervais Williams: the real reason to worry about Quindell

Citywire AA-rated manager Gervais Williams has argued that sentiment is the true danger to Quindell.

Play AA-rated Lofthouse: 'maverick' tobacco settlements won't stop M&A

AA-rated Lofthouse: 'maverick' tobacco settlements won't stop M&A

Henderson International Income trust manager Ben Lofthouse shares his thoughts on recent developments in the tobacco sector in this video.

1 Play Renewable energy: what I found on my solar farm trip

Renewable energy: what I found on my solar farm trip

Renewable energy is attracting a lot of investor interest, so I headed to the UK's largest solar farm to find out more.

Your Business: Cover Star Club

Profile: Quilter Cheviot boss Baines sees more consolidation ahead

Profile: Quilter Cheviot boss Baines sees more consolidation ahead

Nineteen months on from the merger of Quilter Cheviot chief executive Martin Baines says the deal is now paying dividends.

Wealth Manager on Twitter