Whitley Asset Management (Whitley) has been fully acquired by Cazenove Capital, a division of Schroders Wealth Management. The transaction has been approved by the regulatory body.
Conservationist Edward Whitley launched Whitley in London after deciding to set up the Whitley Fund for Nature and manage the sales proceeds of his stake in Greenall Whitley, a prominent brewery, in 1990.
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He founded Whitley 12 years later (2002) to provide the same portfolio management services to a larger customer base of business owners and organisations.
As of 30 September 2024, the company manages around £1.5bn ($1.9bn) in assets on behalf of ultra-high-net-worth entrepreneurs and charitable clients.
Schroders plc’s key growth sector is wealth management, which has grown especially quickly after the company acquired Cazenove Capital in 2013.
With the purchase of Whitley, Cazenove Capital is demonstrating its ongoing dedication to investing in wealth and expanding its network of ultra-high net worth families, prosperous business owners, and charities in the UK.
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By GlobalDataFurthermore, the alignment of Whitley’s ethos with Cazenove Capital is a key element in this decision to merge. The companies share a dedication to client-centricity and investment expertise.
Whitley’s clients will have access to Cazenove Capital’s full suite of services, which include financial planning, banking, philanthropy, and access to private and impact investments.
Mary-Anne Daly, Schroder’s wealth management chief executive stated: “We are delighted that Edward Whitley has chosen Cazenove Capital as the future home for his business and clients and are looking forward to welcoming him and his team to 1 London Wall Place.
We have a deep understanding of the requirements of multi-generational families, business owners and charities. Our shared culture of service excellence, the depth of Schroder’s investment expertise and our continuous investment in people and technology will sustain our presence by the side of these clients for generations to come.”
Founder Whitley added: “After building up Whitley Asset Management for over 20 years, looking ahead to the next 20 years I believe that Cazenove Capital is the ideal home both for our clients and for our team. I feel very proud to have built a business which Cazenove Capital wishes to take on. As one of the leading and in our view the most respected wealth manager in the UK, Cazenove Capital was really the only choice for us. Combining excellent client service with impressive investment performance, Cazenove Capital shares the same ethos as us – and they also benefit from the depth and global breadth of Schroders. Our investment management approach is long-term and inter-generational, and I believe that our clients and our team will feel very at home within Cazenove Capital and that they and their subsequent generations will enjoy the long-term benefits that Cazenove Capital can provide.”
Moreover, Whitley and his portfolio management team will be based at the Cazenove Capital and Schroders headquarters at 1 London Wall Place, London EC2Y.
