Principal acquires Iain Nicholson IM for Northern expansion

Principal Investment Management has acquired discretionary investment manager Iain Nicholson Investment as it expands its presence in the regions.

The combined business will have £1.8bn in assets under management across offices in London, Sevenoaks, Bath, Kirkby Lonsdale, Harrogate and Iain Nicholson IM's base in Ponteland. Part of the Sanlam Group, Principal's latest acquisition follows its January 2011 takeover of Border Asset Management, the independent portfolio specialists. "We are delighted to announce this acquisition which fits so well with our existing business and gives us further traction in the North of England," said Principal vice chairman Hugh Titcomb. "The Principal and Iain Nicholson businesses share a strong...