The latest interested party in Jupiter Fund Management’s wealth management arm is Brown Shipley, a source involved in the process confirmed.
Jupiter’s management team has encouraged final bids for its wealth management division. The race is heating up with not only Brown Shipley interested, but Rathbones, Quilter Cheviot and Towry are also rumoured to be interested.
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Brown Shipley, backed by Qatari firm Precision Capital, previously entered the race for Deutsche Bank’s Tilney business before being beaten by Permira, who also own Bestinvest.
The wealth management division of Jupiter managed £2.2 billion at the end of 2013 and is worth an estimated £50 million.
Brown Shipley declined to comment.
