Rathbones continues acquisition strategy

Rathbones’ external growth strategy has proven a success as the firm has announced that both net profit and assets under management have increased by approximately 15% for the year to the 31 December 2017. Net profit is currently at £87.5bn with an operating margin of 30%. The investment manager has also confirmed that it intends to continue making acquisitions throughout 2018.
The CEO of Rathbones, Mark Nichols, has commented that the firm is working towards having assets under management of £40bn, a target just shy of £1bn extra AUM. Nichols also mentioned that the firm is keen to make “smaller” acquisitions in order to reach this target. This wariness of large scale acquisitions possibly results from the planned merger with Smith & Williamson – the UK’s eighth largest accountancy – that collapsed last year.