mergers and acquisitions

US firm also considered deal with Invesco

'A win' for both companies

Group plots turnaround after missing out on deal

Creates $24.2bn wealth management firm

Confirmed intentions in May

Firm's £75m acquisition third in four years

Follows sale of Borsa Italiana group

Firms hungry for bigger tie-ups

Polar Capital has completed the acquisition of the International Value and World Value equity teams from Los Angeles-based First Pacific Advisors.

Fund manager changes drive outflows