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Brooks Macdonald Completes Levitas Acquisition
UK-listed Brooks Macdonald has, as expected, acquired the entire issued share capital of Levitas Investment Management Services following the exercise of the call option agreement dated 19 December.
UK-listed Brooks Macdonald
has, as expected, acquired the entire issued share capital of
Levitas Investment Management Services following the exercise of
the call option agreement dated 19 December.
The acquisition will boost assets under management at Brooks
Macdonald and follows the takeover of Jersey-based wealth manager
DPZ Capital in April.
The deal helped the group's discretionary funds under management
climb 28.2 per cent in the past year, up from £5.11 billion
($8.68 billion) to £6.55 billion.
In particular it boosted the last quarter, with discretionary
funds under management rising by £629 million - £363 million
contributed from the DPZ acquisition.
Earlier this week, Brooks Macdonald Group appointed a
non-executive director.
Starting on 1 August, Richard Price will become a member of the
firm’s audit committee, as well as its risk and compliance
committee.
His appointment follows Brook Macdonald's initiative to redress
the balance between executive and non-executive directors on its
board in line with best corporate governance practice, a
spokesperson for the firm told this publication.
