Mattioli Woods founder may transfer half of stake after divorce settlement

clock

Bob Woods, executive chairman of advice firm Mattioli Woods, is to pay out half the value of his 15.1% stake in the firm to his ex-wife under the terms of their divorce settlement.

Woods, who owns 3.1 million shares in the company, agreed a consent order with his ex-wife which could see him sell half of his stake in the firm - albeit not until 2019. The order is subject to approval by the Family Court. If approved, Woods will be asked to settle with his former wife on 20 July 2019, the firm said in an update to the stock exchange. Mattioli Woods said: "If the consent order is approved by the court, while the shareholding will remain under the full control of Mr Woods, it will become subject to an equitable charge in favour of Mrs Woods. "The charge provides...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Wealth Management

Brian Raven, Tavistock chief executive

Tavistock revenues jump 14% amid year of acquisitions

Bought LEBC research firm

clock 27 June 2022 • 1 min read
The largest revenue growth opportunity will be in the affluent and low high-net-worth client segments with more than $300k and less than $5m in wealth.

Wealth industry missing out on $230bn opportunity in lower HNW and affluent segments

Morgan Stanley and Oliver Wyman report

clock 10 June 2022 • 2 min read
Andrew Shepherd, CEO of Brooks Macdonald

Brooks Macdonald set to acquire Integrity Wealth Solutions

Funds under management of £250m

Elliot Gulliver-Needham
clock 23 May 2022 • 2 min read
Trustpilot