River Global agrees £2.5m takeover of Alexander Darwall's Devon Equity Management

Darwall to be European equities co-head

Wealth and asset manager River Global has struck a deal with Alexander Darwall’s Devon Equity Management, an acquisition that will see Darwall appointed co-head of European equities for the combined group.

The total deal is set to be worth up to £2.46m in total, with the owners of Devon receiving an initial 16.7 million initial River Global shares, with a further 24.3 million deferred shares on 16 June 2026, both at 6p each.  As part of the deal, Devon's current chief investment officer, Darwall, will become co-head of European equities for the combined outfit, spearheading the division alongside Charlie Southern, currently a senior fund manager at Devon.  River Global CEO Alex Hoctor-Duncan departs Devon's CEO, Richard Pavry, will gain a seat on the River Global board in an executiv...