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.

Thorn to lead merged Quilter Cheviot Liverpool office

Thorn to lead merged Quilter Cheviot Liverpool office

Quilter’s Liverpool office head Richard Thorn is to lead the newly enlarged team in the city, following the firm’s merger with Cheviot.

Thorn will run the combined Quilter Cheviot team, while Simon Walker, head of Cheviot in the city, will lead business development in the region. He will seek to build on the progress the team has made so far.

Since launch in May 2011, Cheviot has attracted around £200 million in assets, while Quilter's team runs just over £390 million. The combined team comprises 25 people and a new office location is currently being considered.

The decision marks one of the first stages of the two companies’ integration process, following the FSA’s formal approval of the merger earlier in the year.

Thorn said: ‘It is very much business as usual for our clients. Now that the formalities with the regulator have been concluded, work can begin in earnest on the integration of the back office systems, which will underpin the new organisation.’

Question marks still remain over who will lead the London office, the other area where there is overlap, and how the two investment processes and platforms will be integrated.

The deal is understood to be worth around £100 million and was funded by Bridgepoint, Quilter’s private equity parent.

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 Gutteridge: what's behind the second oil crash?

Brewin's Gutteridge: what's behind the second oil crash?

This week Brewin Dolphin's research head talks to Will Riley, co-manager of the Guinness Global Energy fund, about what next for oil.  

Play AA-rated Bullas: what drove my UK small cap outperformance

AA-rated Bullas: what drove my UK small cap outperformance

AA-rated Richard Bullas has quietly been making a name for himself at the helm of the Franklin UK Smaller Companies fund.

Play Sector spotlight: how Harwood's Philbin is playing emerging markets

Sector spotlight: how Harwood's Philbin is playing emerging markets

Emerging markets have been a rollercoaster for investors, but amid the doom there have been have been bright spots, such as India. 

Your Business: Cover Star Club

Profile: CHI's bond supremo on liquidity and bond risk management

Profile: CHI's bond supremo on liquidity and bond risk management

'Some people have been extremely complacent about rate rise risk. Myself, I wish they would just get on with it.'

Wealth Manager on Twitter