News

26
May

Suffolk Life acquisition by Curtis Banks completes

We announced in January that specialist SIPP provider planned to make its 7th acquisition, purchasing Suffolk Life from L&G for £45million.
Today the FCA and Prudential Regulation Authority gave the transaction regulatory approval, completing the sale.
The acquisition of Suffolk Life grows Curtis Banks to 63,000 clients, making it the 7th largest SIPP provider in the UK.  Curtis banks has grown strongly through the acquisition of SIPP client banks, and last year listed on the AIM stock exchange.
Commenting on the deal, chairman Chris Banks said “‘This is a very significant acquisition for the group. My colleagues and I look forward to working with the skilled management team already in place at Suffolk Life in order to develop the potential of the combined group for the benefit of clients, advisers, staff and shareholders”
Suffolk Life managing director, Will Self, said “Joining Curtis Banks, with its strong focus on the advised retirement market will help Suffolk Life realise its strong potential,’ he said. ‘Over time the expected improvements will not only benefit advisers and their clients but will play an important role supporting the longer term ambitions of the group.”