Investec Wealth & Investment, one of the UK’s leading wealth managers, has announced that it will acquire wealth management company Murray Asset Management for an undisclosed sum.
The acquisition of the Edinburgh-based firm, which will see the transfer of the team of staff at Murray Asset Management to Investec Wealth & Investment.
The 20 staff of Murray Asset Management have between them over 100 years of experience helping clients realise their financial goals. The company provides a wealth management suite of products and services for clients.
Commenting on the acquisition, Barbara-Ann King, Chief Executive Officer designate of Investec Wealth & Investment, said: “We have ambitious growth plans to build Investec Wealth & Investment into a business that is truly market-leading and delivers a best-in-class client experience. The acquisition of Murray Asset Management is an integral part of our strategy to enable us to deliver our financial advice services to more clients throughout the UK.”
Ruthven Gemmell, Chief Executive of Murray Asset Management, said: “We are very pleased to have the opportunity to become part of the Investec Wealth & Investment business which is similarly client-focused, highly regarded in the market, and has a similar investment approach. By joining forces with Investec, we believe our clients will benefit from the enhanced services. This is the next logical step for the development of our business and we are looking forward to becoming part of the Investec team.”
Leigh Yeaman, Divisional Director of Scotland and Northern Ireland, “Our team in Edinburgh is looking forward to welcoming everyone at Murray Asset Management and working with them to grow our combined business in the region.”
Subject to regulatory approval, Investec is committed to complete the acquisition by the end of September 2022.