Polin's Ashcourt Rowan to receive £8.5m capital injection

Wealth manager Ashcourt Rowan is to receive an £8.5m cash injection designed to strengthen the company's balance sheet and help it realise its ambitions in the financial advice space.

The money will come in the form of a share placing which is expected to be approved by the board at a general meeting to be held on 2 December. A combination of new and existing investors will acquire the shares in a bid to position the business as a leading player in the wealth management space over the next three to five years. It follows the appointment in August of Jonathan Polin, the former sales and marketing director at Ignis Asset Management, as group chief executive. The company said its intention is to use the additional capital to strengthen its balance sheet and improve...