Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a658834

Standard Life wins Newton Wealth bidding battle

by David Campbell on Feb 14, 2013 at 07:24

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 here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home


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

Investing for income in a changing environment


With talk on interest rates on the horizon, our latest roundtable debate covers income investing against a changing backdrop

More about this:

Archive

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet