m&a

Towry has appointed Ashcourt Rowan's managing director Steve Midgley as head of sales strategy and operations following its acquisition of the firm.

Harwood Capital Management has agreed to buy rival wealth manager Wellian Investment Solutions in an effort to expand its multi-manager business.

Ex- Gartmore manager Nigel Kennett, whose Canlife UK Equity portfolio has one of the industry's largest overweights to BG Group, is considering buying Jupiter to replace the natural gas giant.

Asia specialist Coupland Cardiff Asset Management is taking over an Asian small cap fund managed by Stone Drum Partners, with manager Charlie Erith also moving across.

National wealth manager and consolidator Bellpenny has acquired two IFA firms with a combined £84m funds under management (FUM).

Aberdeen Asset Management will consider additional acquisitions following its purchase of Scottish Widows Investment Partnership (SWIP) last year, chief executive Martin Gilbert has said.

Pioneer Investments has reached an agreement to merge with Santander Asset Management, creating one of the largest European asset management groups by AUM.

Which sectors are ripe for consolidation?

Brewin Dolphin has been named as a prime candidate to join the wealth management M&A merry-go-round by broker Liberum Capital.

Bellpenny has acquired financial advisory group City Wealth Management (CWM) as it continues to consolidate smaller wealth management businesses.