Wealth Management

‘We haven't felt pain like this in markets for some time’

Old Mutual is in advanced talks about a £650m takeover of the UK's second largest independent wealth manager Quilter Cheviot, according to Sky News.

Lloyds Banking Group has hired the former head of discretionary from Barclays' Wealth as part of a rejig of senior personnel within its wealth division.

Former Jupiter head of private clients Andrew Clark has become head of Rathbone Private Office after the company completed its acquisition of Jupiter's private wealth business.

Wealth manager Turcan Connell is planning to launch its own real estate investment trust (REIT) in a bid to offer clients a solution to persistently low interest rates on cash holdings.

Barclays has hired former Citigroup banker Akshaya Bhargava to head up its recently restructured wealth management business, following the exit of Peter Horrell in June.

Brooks Macdonald has reported a sharp uptick in funds under management year on year following a raft of acquisitions in 2014.

As more money flows into the industry, the fund universe remains skewed between the large funds getting larger still and the small funds being merged away.

Charles Stanley has warned its next round of results will miss market expectations as the business continues to feel the squeeze on its commission income, while in a separate move it said it had sold Henry Dixon's Matterley fund to Miton Group.

Former Iveagh CIO Chris Wyllie has joined wealth manager Connor Broadley to run its discretionary investment service.