Brooks Macdonald agrees £10m acquisition of Lloyds' offshore wealth business

Adds multi-asset and fixed income opportunities

Mike Sheen
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Brooks Macdonald CEO Caroline Connellan
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Brooks Macdonald CEO Caroline Connellan

Brooks Macdonald Asset Management is set to acquire Lloyds Bank's Channel Islands wealth management and funds business in a cash deal worth almost £10m.

The deal, which is expected to complete subject to regulatory approval in the fourth quarter of this year, will see Brooks Macdonald purchase 100% of the share capital of Lloyds Investment Fund Managers...

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