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
Brewin's Foster: the world’s most unconventional monetary policies

Brewin's Foster: the world’s most unconventional monetary policies

In this week's podcast, Guy Foster asks why the world’s biggest economies are pursuing some of the world’s most unconventional monetary policies. 

Play Charles Tan on Woodford & hidden trust income gems

Charles Tan on Woodford & hidden trust income gems

Cantor Fitzgerald investment company analyst Charles Tan discusses Woodford Patient Capital and some of the income trusts slipping under the radar.  

Play Taxicab Tenner: SGPB Hambros CIO Eric Verleyen

Taxicab Tenner: SGPB Hambros CIO Eric Verleyen

In the second episode of our new series, Verleyen jumps on board a black cab and explains how hard it's become to find good valuation on the market.  

Wealth Manager on Twitter