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Psigma targets Scottish deals and eyes Newcastle hub
by Eleanor Lawrie on May 30, 2014 at 11:16
Psigma's new Edinburgh head Tim Wishart is targeting small acquisitions to grow the firm's Scottish presence.
Wishart said Psigma is also considering opening a Newcastle office as part of the firm's Northern expansion.
In Scotland, Wishart said of potential deals: ‘The [Scottish] market is quite fragmented. There are an awful lot of smaller businesses where they may be looking for an exit, or where the partners are looking to realise the capital. We would obviously be very interested in talking to anyone in these situations.’
The investment director, who joined Psigma after 12 years at Rathbones, thinks the recent slew of acquisitions and regulatory changes in the wealth management sector could create hiring and deal opportunities.
‘There may be individuals who are not happy where they are, something we might be able to benefit from. Maybe there will be a nice mini-acquisition or something larger. If something much larger appears we would look at it, and if they thought we were the right people to work with, that could produce something interesting,’ he said.
In addition to launching Psigma’s Edinburgh office, Wishart visits Newcastle every two weeks to help manage operations in the north east, and suggested the next step would be for the firm to have a full time proposition there.
‘As a wishlist, if things went to plan in the future, we would like to have a more permanent presence in Newcastle as well,’ he said.
PSigma is run by John Howard- Smith (pictured).
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