Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/wealth-manager/article/a658773
Thorn to lead merged Quilter Cheviot Liverpool office
by Danielle Levy on Feb 15, 2013 at 09:40
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.
News sponsored by:
Subscribe to Wealth Manager to get the inside track on your rivals' moves
Keep up to date with how your peers are allocating their clients' assets by subscribing to Wealth Manager magazine.
Today's top headlines
More about this:
More from us
- Quilter eyes more targets after £100m Cheviot deal
- Quilter locks in senior Cheviot staff as its seals £100m deal
Aberdeen Live supplement: Fundamentals point to ongoing flows and solid returns from EMD
After a record year for inflows and market-leading performance in 2012, emerging market debt has taken a large step towards the mainstream. Our recent debate covers the outlook for the asset class this year and where opportunities can be found.
On the road
on May 21, 2013 at 14:06