A round-up of corporate and M&A deals that affected wealth managers and private banks in the EMEA region, and in certain other parts of the world.

This is a roundup of M&A deals affecting firms in the region. Note that at the point of writing the original stories, not all the transactions had won regulatory/shareholder approval, and stories about these transactions may be subsequently updated. This summary is intended to provide a snapshot of transaction agreements and to signify the level of activity in the sector. For comments, corrections or feedback, email tom.burroughes@wealthbriefing.com

TrustQuay, Viewpoint
TrustQuay, which operates in the trust, corporate and funds services sector, and Viewpoint, a wealth management solution provider, concluded their merger deal. The enlarged organisation, which is based in the UK, serves more than 660 customers across Europe and Asia. It spans corporate services providers, trust and fund administrators, public listed companies, family offices, trust banks, lawyers and accounting firms. In total, the group has 270 employees in 12 office locations which include Jersey, Guernsey, the UK, Luxembourg, the Netherlands, Malaysia, Singapore and Australia. On completion, Rolf Heemskerk, CEO of Viewpoint, who became chief information officer of the combined group, joined the board.

Old Mill, Quro
Old Mill, a UK accountancy and financial advisory business, bought commercial property pension specialist Quro Financial Solutions, a firm in the southwest region of the UK. This was the second in a series of deals by Old Mill to double its business size by 2026. The financial terms were not disclosed.

Mediobanca, Arma Partners 
Italian banking group Mediobanca agreed to buy independent financial advisory group Arma Partners as it aims to move into the digital economy space. Arma Partners provides independent corporate finance advice to companies and private equity funds throughout the entire corporate lifecycle, from raising private capital for fast-growing founder-led and venture-backed businesses to complex cross-border M&A deals for PE investors and global public companies.

Founded in 2003, Arma Partners is based in London and has offices in Munich, a presence in the US, and affiliate relationships with specialist advisory firms in Japan, Australia, Israel, Turkey and Brazil. Mediobanca paid the purchase price in cash of which 40 per cent at closing is in available funds, with the remainder being released over four years based partly on Arma’s performance. The firm will have the option to pay the deferred component in Mediobanca shares. The purchase was subject to regulatory clearance.

Hurst Point Group, Helm Godfrey
UK-based wealth manager Hurst Point Group agreed to buy wealth management and corporate solutions practice Helm Godfrey. Helm Godfrey, which has 65 staff and is based in London, gives Hurst a wider footprint in London and southern areas of the UK. The deal was subject to certain conditions including regulatory approval.

Titan, Ravenscroft
Titan Wealth Holdings entered into a share purchase agreement to acquire (subject to shareholder and regulatory approval) Ravenscroft's UK-based investment management business.

Praxis, Sarnia Yachts 
Global private wealth and corporate services provider Praxis proposed to buy specialist superyacht ownership and operational services business Sarnia Yachts. Sarnia Yachts has a client base of owners, trustees, family offices, lawyers and brokers serviced from its offices in Guernsey, Malta and the UK. With a history dating back 50 years, it provides services including yacht ownership, yacht management, crew management, yacht insurance support, and ownership administration and support for family offices on yacht-related services. The proposed deal – the financial terms of which were not disclosed – is subject to regulatory and competition authority approvals.

AlTi Tiedemann Global, AL Wealth Partners 
Nasdaq-listed AlTi Tiedemann Global acquired Singapore’s AL Wealth Partners. The deal came a few months after AlTi Tiedemann Global was born out of the merger of US-based Tiedemann Group and London’s Alvarium. The combined organisation oversees about $65 billion of assets under advice and administration. ALWP was founded in 2007 by entrepreneurs Anthonia Hui and Leonardo Drago to focus on the needs of UHNW individuals and family offices.

Suntera, Carey Commercial
Jersey-based Suntera Global acquired Carey Commercial Limited (Carey), a boutique fund, corporate and private wealth services provider. The transaction is subject to regulatory approval. With a 45+ year heritage and a team of 80 specialists, Carey provides professional, administrative and accounting services to fund managers, large institutions, UHNWs and family offices around the globe.

Succession Wealth, Spence & Spence
UK wealth management and financial planning group, Succession Wealth, said it had acquired – subject to FCA change of control approval – Spence & Spence, an Edinburgh-based independent financial advisor which manages £170 million ($214.4 million) in assets.

Liontrust, GAM
UK-listed Liontrust, the fund management group, provisionally agreed to buy all of asset manager GAM Holding. Liontrust said it will pay for the deal by issuing 9.4 million new ordinary shares. It expects that GAM shareholders will own about 12.6 per cent of the enlarged firm once the deal is wrapped up. The proposed acquisition is expected to complete in the fourth quarter of 2023. 

FNTC America, PCS 
FNTC America, an IQ-EQ Group company that serves the US timeshare industry, bought PCS Holdings, the title agency affiliated with Eck, Collins & Richardson, a timeshare foreclosure and closing firm. PCS provides title, closing, escrow and related timeshare inventory services to ECR’s clients. In addition, FNTCA and ECR have entered an arrangement that allows both parties to provide seamless title, trustee, foreclosure, escrow and legal services to their shared clients. IQ-EQ rebranded its US-based firms after a raft of acquisitions last year.

Rockefeller Capital Management 
Rockefeller Capital Management partnered with the Rockefeller and the Desmarais dynasties as long-term strategic investors. The arrival of the Desmarais family into the RCM fold saw a prominent Canadian family becoming involved in the business. The Desmarais family took a 20 per cent stake in the firm, and acquired two board seats, in exchange for a capital investment of $622 million. As part of the transaction, the Rockefeller family increased its investment in Rockefeller Capital Management. Viking Global Investors remained the majority owner of RCM and there is no targeted end date for its involvement.

Investec, Rathbones 
UK-based Investec Wealth & Investment, and Rathbones, the London-listed group, merged in an all-share deal to create the UK’s “leading discretionary wealth manager.” Rathbones issued new shares in exchange for all of Investec W&I UK’s share capital. The enlarged Rathbones Group remains an independent firm under the Rathbones brand with Investec Group as a long-term, strategic shareholder.

Under the terms, Investec Group owns 41.25 per cent of the economic interest in the enlarged Rathbones group’s share capital, with Investec Group’s voting rights limited to 29.9 per cent. The terms of the combination implied an equity value of about £839 million ($1.04 billion) for Investec W&I UK.

Momentum, Crown Agents
Momentum Global Investment Management, the UK-based subsidiary of Momentum Metropolitan Holdings, bought Crown Agents Investment Management (CAIM). The deal created a group with combined assets under management of $8.3 billion. MGIM provides specialist investment management services to institutional clients, financial intermediaries and their clients in the UK, Europe, Asia, the Middle East, South America and South Africa. It has $5.5 billion assets under management. CAIM has $2.8 billion assets under management and is a specialist fixed income and multi-asset institutional investment manager which is based in Sutton. 

Evelyn Partners, Ashcroft
Evelyn Partners, the UK wealth manager and professional services group, acquired Ashcroft Partnership, a firm of chartered accountants and tax specialists in Cambridge in the East of England. The financial terms were not disclosed.