Brooks Macdonald Group plc

12/01/2020 | Press release | Distributed by Public on 12/01/2020 01:01

Brooks Macdonald maintains growth trajectory with...

Home/News/Brooks Macdonald maintains growth trajectory with acquisition of Lloyds Bank International's Channel Islands wealth management and funds business

Brooks Macdonald maintains growth trajectory with acquisition of Lloyds Bank International's Channel Islands wealth management and funds business

01 December 2020

Brooks Macdonald International, the Channel Islands-based subsidiary of the Brooks Macdonald Group, has completed its acquisition of the wealth management and funds business of Lloyds Bank International Limited.

Having announced the intended acquisition in June this year, the transaction has now received all regulatory approvals, in what has been a year of reinvigoration and growth across Brooks Macdonald's business in Jersey and Guernsey.

In particular, the acquisition will result in a significant increase in Brooks Macdonald's Funds Under Management (FUM) in the Channel Islands by over 50%, whilst also adding a high quality discretionary client base and a multi-asset and fixed income fund range to the firm's offering, as well as enhanced intermediary distribution capabilities.

A number of new roles have been created through the acquisition, with the firm recently relocating to larger premises in St Helier to accommodate the larger team and in anticipation of future growth.

Andrew Shepherd, CEO of International, said:

'The completion of this acquisition marks a significant milestone in the evolution of Brooks Macdonald International. As well as creating an enhanced proposition for clients, advisers and trustees, it also reflects our wider growth ambitions in the Channel Islands. Despite a challenging global environment, this year we have remained focused on reinvigorating the business, including launching a new Responsible Investing Service for international clients, strengthening our team, and moving to larger premises in Jersey. Our international clients and intermediaries will also undoubtedly benefit from Brooks Macdonald's recently announced partnership with SS&C Technologies to deliver best-in-class intermediary experience and client service.'

Commenting on the successful integration of the new business, Andrew added:

'I am pleased that we have built such a strong relationship with the Lloyds Bank International management team throughout this process which has not only resulted in the smooth onboarding of discretionary clients and the successful transition of Lloyds Investment Fund Managers, but will also result in further opportunities to co-operate on a reciprocal basis in the future.'

In its most recent quarterly update, Brooks Macdonald International, announced growth in its Funds Under Management (FUM) by 3.9% to stand at in excess of £1.6 billion for the period ending 30 September 2020.

// Read full details of the announcement

// Read more about our International business

// Read about our International investment management services.


Crystal PR
Adam Riddell
[email protected]
+44 1534 639505

Notes to editors

Brooks Macdonald Group plc, through its various subsidiaries, provides leading investment management services in the UK and internationally. The Group, which was founded in 1991 and began trading on AIM in 2005, had Discretionary Funds under Management of £13.7 billion as at 30 September 2020.

Brooks Macdonald offers a range of investment management services to private high net worth individuals, pension funds, institutions, charities and trusts. The Group also provides financial planning as well as offshore investment management and acts as fund manager to two regulated OEICs (the IFSL Brooks Macdonald Fund and the SVS Cornelian Investment Funds) providing a range of risk-managed multi-asset funds and a specialised absolute return fund.

The Group has twelve offices across the UK and the Channel Islands including London, East Anglia, Hampshire, Leamington Spa, Leeds, Manchester, Taunton, Tunbridge Wells, Scotland, Wales, Jersey and Guernsey.