European Wealth Group has purchased Xcap Nominees for an undisclosed sum to boost its Manchester office.

The acquisition will add £30m of assets to the Manchester office, which currently employs a team of six investment managers servicing clients both within the local area and across the UK.

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The office also delivers a range of sophisticated investment services to professional intermediaries across the Far East.

Additionally, European Wealth has been selected as the discretionary investment manager to the Montpelier Group of businesses based in Malaysia and Thailand with combined assets under management of over £100m.

European Wealth executive chairman John Morton said: "Manchester is a key regional centre for our business. This deal further strengthens the asset base of the business and emphasises our commitment to building our presence here."

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