M and A
UK's Progeny Acquires Wealth Manager, Expands AuM To ÂŁ8 Billion
The transaction is an example of continued M&A activity in the UK wealth management space.
UK professional services firm Progeny has acquired
Nottingham-based wealth manager, Fiscal Engineers, a business
that uses a “family office” approach.
The acquisition, the terms of which were not disclosed, will
strengthen Progeny’s presence in the Midlands and take its assets
under management to ÂŁ8 billion ($10.2 billion), Progeny said in a
statement this week.
“Fiscal Engineers uses a family office approach to provide
bespoke services for business owners, entrepreneurs and other
individuals who have substantial investment needs,” Progeny said
of Fiscal Engineers.
Besides its Nottingham headquarters, Fiscal Engineers, bought in
2000, has offices in Birmingham and London.
