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.

Standard Life wins Newton Wealth bidding battle

Standard Life wins Newton Wealth bidding battle

Standard Life is to buy Newton’s £3.5 billion UK wealth management division, beating off a crowd of rival bidders believed to include Rathbones and Quilter.

The talks, which are said to value the business at £90 million, are now believed to become exclusive, the Telegraph reported.

The deal has been navigated by Standard Life Wealth boss and former Wealth Manager coverstar Richard Charnock, and will be considered something of a coup for him.

Charnock has made no secret of his ambitiously expansionary plans for the business. The deal is the latest in a series of high profile consolidations of  discretionary fund management businesses.

Quilter and Cheviot agreed to merge in November of last year.

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 Commodity conundrum, beleaguered bonds and a US dilemma

Commodity conundrum, beleaguered bonds and a US dilemma

This week’s episode of Investment Pulse looks at the impact of falling commodity prices on banks, dangers of negative yield curves and whether US equities can continue to deliver.

Play Mirabaud's Pyshkin: The US will continue to grow dividends

Mirabaud's Pyshkin: The US will continue to grow dividends

The global equity income manager has invested half of his fund here.

Play Potential US rate rise, cheap oil & the Europe opportunity

Potential US rate rise, cheap oil & the Europe opportunity

This week we analyse the implications of a possible rise in US interest rates, the impact of cheap oil and the European equity opportunity.  

Wealth Manager on Twitter