View the article online at http://citywire.co.uk/wealth-manager/article/a446833
Oakley Capital acquires BDO Investment Management
by Dylan Lobo on Nov 04, 2010 at 08:45
Oakley Capital Investments has snapped up BDO Investment Management (BDOIM) for £14 million.
AIM-listed Oakley has acquired an 84.4% stake the firm, which provides investment advice and solutions to corporates and individuals and is responsible for £2 billion in assets and has three divisions; asset management, corporate pensions and benefits, and private clients.
The board believes Oakley's investment will enable BDOIM to build further scale and take advantages of growth opportunities within the financial services market.
David Pitman, former CEO of Close Wealth Management, will be appointed as CEO of BDOIM.
Peter Dubens, director of Oakley Capital Investments, said, 'We are very pleased to be backing David Pitman and his plans for BDOIM.
'BDOIM has a solid market position as an independent provider of client-focused advice; with our support and investment, we feel that there is a real opportunity to grow the business by increasing funds under management and adding high quality corporate clients, while at the same time investing in an infrastructure to support further growth and provide a first rate service to BDOIM's clients.'
News sponsored by:
As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
Today's top headlines
From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.
More about this:
Look up the shares
On the road
on Jul 31, 2014 at 10:36