Brewin Dolphin has revealed that talks are underway for the acquisition of Investec’s wealth management firm, based in the Republic of Ireland, in what would be a purchase worth over £50m. Brewin Dolphin, a FTSE 250 firm, is among the largest investment management firms in the UK and had over £37bn in discretionary funds under management as of the end of 2018.
Stuart Dyer, CEO of broker firm Soprano Mergers & Acquisitions, commented: “This seems to be a potential deal that transfers the ownership of a non-core asset to the right sort of “home” and from a Brewin perspective, this seems to be another example of discretionary managers expanding controlled distribution and, at the same time, acquiring a client base that is in line with its target profile.”
