UK - Swiss Life Asset Management has been bought by brokerage firm King & Shaxson for an undisclosed amount.
King & Shaxson said the acquisition was the first step in its plans to build a “substantial” fund management business in the UK.
The operation will be re-branded King & Shaxson Asset Management.
Tom McIntosh will continue as UK team leader, managing transferred assets of over £1bn. The fund management, marketing and operations teams at SLAM will all be transferred on completion of the deal, which is subject to regulatory approval.
The acquisition is expected to be approved before Christmas.
King & Shaxson chairman Ian Perkins said: “KSAM will be the cornerstone of our determined move into institutional funds management.
“We are looking to build on this platform at the earliest opportunity with further acquisitions of businesses, teams and highly qualified individuals.”
King & Shaxson is owned by the Singapore-based financial services company PhillipCapital Group.
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