Prudential Financial buys stake in South African wealth manager
It is a ‘strategically important growth market’ for the firm
It is a ‘strategically important growth market’ for the firm
Deals add £335m in assets under management
Deal increases assets under influence to around £800m
Founder of acquired business will exit the company next year
Combined business will have more than 600 advisers and A$16bn in funds under advice
Company is pursuing an ‘ambitious IFA consolidation plan’
Owners ‘recognised the opportunity the pandemic presented and discussed their shared ambitions to grow’
It is reportedly one of four companies interested in the business
A round-up of people moves and M&A deals across North America
It will ‘continue to acquire selectively where opportunities exist’
It could cost acquirers around A$1.5bn
As it eyes deals in the UK and Europe