Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration 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 Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter