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Rathbones buys London-based wealth manager

by Dylan Lobo on Apr 05, 2012 at 13:21

Rathbones buys London-based wealth manager

Rathbone Brothers' subsidiary, Rathbone Investment Management, has completed the acquisition of London-based wealth manager RM Walkden & Co.

RM Walkden, which is based at Charterhouse Square, has gross assets totalling £948,494.

Rathbone IM, which is led by Andy Pomfret (pictured), recently raided rivals Brewin Dolphin, Newton Investment Management and Turcan Connell to hire a four-strong team.

Full-year numbers from the firm, published at the end of February, showed a 30% jump in pre-tax profit with funds under management  rising from £15.6 billion to £15.85 billion.

The group has recently relocated its London headquarters to 1 Curzon Street. 

5 comments so far. Why not have your say?

Mehrdad Yousefian

Apr 05, 2012 at 13:48

Shock horror Dylan, Rathbone's AUM just increased by almost £1 million !!

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Apr 05, 2012 at 14:23

It would appear that you do not have extensive experience of company accounts, Mr Yousefian.

Experience indicates that there is a difference between gross assets (the company's balance sheet refers) and funds under management (or influence if advisory).

In our case, the first is approximately 0.8% of the second - a similar ratio would suggest an investment manager with £107m under management.

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Tony Yousefian

Apr 08, 2012 at 12:32

What year did you have the humour by pass operation?

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Apr 10, 2012 at 12:56

I was just being ar-mean-ian!

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Mehrdad Yousefian

Apr 11, 2012 at 11:09

Nice to see the opeartion wasn't that successful after all !

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