European Wealth, the wealth management group, recorded a £160 million increase in funds under management (FuM) in the first half of 2014, from £660 million to £820 million.

The group attributed the 24.2% rise to the strengthening of its European investment management team in the second half of last year and the first six months of this year.

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In addition, the group cited the recent acquisition of IFA business Compass, which has roughly £31 million FuM, as a strong factor in its growth. This deal was the company’s fifth in four years.

John Morton, executive chairman, said: "The last six months have been a period of continued expansion for the group. We continue to review further organic growth and targeted acquisition opportunities that have the ability to widen our geographic reach, broaden our scope of services and access important new client niches in the second half of the year."

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