Wealth Manager - the site for professional investment managers

Register to get unlimited access to 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
CIO Tapes 2: two warnings and a lot of optimism

CIO Tapes 2: two warnings and a lot of optimism

Our group of leading asset management CIOs see a lot of opportunities – and overseas investors are buying UK too

Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Read More
Your Business: Cover Star Club

Profile: Kleinwort Hambros' boss on how to manage five banks

Profile: Kleinwort Hambros' boss on how to manage five banks

Welding together Kleinwort and Hambros – two of Britain’s most historic banks, founded in 1786 and 1839 respectively – was always going to be a challenge.

Wealth Manager on Twitter