Premier AM confirms £140m IPO
Premier Asset Management has confirmed its IPO with existing shareholders, including Electra Partners, set to retain a controlling 54.4% of the business.
Companies
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Schroders/Cazenove to acquire C. Hoare & Co’s WM arm
Schroders-owned Cazenove Capital Management is to acquire C. Hoare & Co’s wealth management business, with the deal set to complete in Q1 2017.
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Henderson/Janus merger highlights increasing need for scale
The ink is not dry and already commentators are hailing the merger of Henderson Global Investors and Janus Capital as an example of what is to come.
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Henderson takes on Janus in $320bn merger
London-headquartered independent fund manager Henderson Group is to merge with US fund manager Janus Capital, creating a combined operation with $320bn (£248bn,€285bn) assets under management and a market capitalisation of approximately $6bn.
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Generali to exit Guatemala and Liechtenstein
Italy’s largest insurer Generali is set to pull out of Guatemala and Liechtenstein after signing agreements to sell its operations in two separate deals.
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Chinese insurers make beeline for UK and Europe
Large Chinese mainland insurance companies are on a mission to diversify their asset base and have the UK and Europe in their sights as they look to deploy their money around the world.
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Albion Ventures to acquire OLIM IM from Close Brothers
UK-based venture capital investor Albion Ventures has agreed to acquire OLIM Investment Managers from Close Brothers Group.
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Australia’s Westpac to remove sales incentives for staff
One of Australia’s big four banks, Westpac Banking Corp, has announced plans to remove all product related incentives from frontline staff in its retail branches as part of efforts to rebuild trust with its customers.
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Morocco’s Saham Finances buys Mauritian insurer Sun Insurance
Moroccan insurer Saham Finances has bought Mauritian insurer Sun Insurance for an undisclosed sum, the company has confirmed.
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OMW denies shelving IPO over platform costs
Old Mutual Wealth has denied reports that it is looking at cancelling its planned listing on the London Stock Exchange due to runaway costs of upgrading the technology behind its platforms.
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Brooks MacDonald grows FUM despite Brexit headwinds
Brooks MacDonald overcame “significant headwinds” to achieve higher funds under management and profits for the year ending 30 June 2016.
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Advisers losing out due to customer experience not price
Advisers are losing business because they are failing to provide clients with a good customer experience, not because other companies are beating them on price, according to Rod Bryson, principal – wealth, long-term savings and insurance at Capgemini Consulting.