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.

Saltus regional push gathers pace with Mercater acquisition

Saltus regional push gathers pace with Mercater acquisition

Discretionary firm Saltus Fund Management is set to acquire Altrincham-based wealth manager Mercater Capital Management, for an undisclosed sum.

The combined firm, which will trade under the Saltus name, will provide Saltus with a base to pursue its growth plans in the North West of England.

As a result, the Mercator team will see the amount of funds it manages – currently £65 million – dramatically increase.

Simon Armstrong, managing partner at Saltus, said: ‘The combined business will benefit from additional resources and complementary expertise while clients and professional introducers can access our multi-asset approach, working within risk budgets and investing in a global pool of ‘best of breed’ specialist managers.’

He added: ‘There is a high quality team in place and we are looking to increase the headcount in the areas of portfolio construction, client service and finance.’

Tighter regulation, as a result of the retail distribution review (RDR), and increased competition has put pressure on smaller wealth managers.

‘We have the infrastructure in place so that, by working with us, these smaller organisations can both thrive and flourish in this new environment and provide great investment solutions to their clients,’ Armstrong said.

The move marks the second acquisition done by Saltus this year, following its purchase of Montague Capital, an independent Midlands-based discretionary manager, earlier in 2012.

Saltus was founded in 2004 by Armstrong and Jon Macintosh, after each held roles at investment banks. The business, based in London, manages more than £270 million on behalf of clients.

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 Where A-rated Pattullo is finding the best bond opportunities

Where A-rated Pattullo is finding the best bond opportunities

Henderson Global Investors head of retail fixed income explains how he is managing his fund against the surprise current monetary policy divergence.

1 Comment Play Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Our much anticpated new series is here! We hand a black cab driver a tenner and grill the manager of the 125-year Merchants trust until the meter runs out.    

Play Europe bulls, a retail boost and why a little inequality can be a good thing

Europe bulls, a retail boost and why a little inequality can be a good thing

This week’s Investment Pulse looks at whether investors should be bullish on Europe, the surprise rise in UK retail sales and if a little inequality is a good thing.

Your Business: Cover Star Club

Profile: meet the duo at the heart of Hargreave Hale's succession plan

Profile: meet the duo at the heart of Hargreave Hale's succession plan

For the first time in the company's history a non-Hargreave is now at the head of the north west broker and asset manager

Wealth Manager on Twitter