Rathbones Group Plc (“Rathbones”) today announces that following receipt of regulatory approval, it has completed the acquisition of Speirs & Jeffrey (“S&J”), Scotland’s largest independent wealth manager with funds under management of £6.7bn and a team of around 150 people, including 38 investment professionals.
Speirs & Jeffrey represents a strong cultural and operational fit for Rathbones, with a heritage and philosophy very similar to our own. S&J is market-leading in Scotland and, like Rathbones, their approach places clients at the heart of everything they do.
This is an important milestone for Rathbones and we look forward to working with our new colleagues at S&J in continuing to provide our clients with an excellent service.
At the time of the announcement in June, Philip Howell, Chief Executive of Rathbones, said:
"From the outset of our engagement, both teams have recognised how compatible they are in culture, investment philosophy and dedication to client service. Speirs & Jeffrey represents an ideal strategic, professional and geographic fit with Rathbones and we look forward to working together both to develop our business in Scotland and deliver compelling returns for our shareholders. Key to our combined future success will be the principle of putting clients at the forefront of what we do, and we will remain committed to this as we welcome Speirs & Jeffrey into the Group."
And Russell Crichton, Chief Executive of Speirs & Jeffrey, said:
"My colleagues and I have long admired Rathbones, and everything we experienced during our discussions has merely strengthened our conviction that it offers the very best fit for our clients and our people. With our client-facing staff members committed to and enthusiastic about the future, clients will continue to enjoy the high level of personal service which has become the hallmark of our firm, but with the additional significant benefits of Rathbones' scale, specialist expertise and deeper capabilities. We are all excited about our partnership with Rathbones and the opportunities this new chapter in our history will provide."
Graham Waddell, Chairman, added: "This represents a significant milestone for S&J but undoubtedly the right one for our clients and our people. The fact that our team will remain intact and that our clients will continue to receive the same exacting standards of personal service, whilst benefitting from the wider resources of Rathbones, fills me with great confidence for the future."
More information can be found here.