Old Mutual Wealth has agreed to acquire a 100% stake in AAM Advisory, a Singapore-based expat-focused financial advisory firm.
Subject to regulatory approval, the deal is expected to close in the next couple of months.
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Financial terms of the transaction have not been disclosed.
The acquisition will not impact AAM’s management or advisory team and AAM will continue to offer advice and solutions from the same range of product providers as before.
Also, clients will not see any change in day to day operations with AAM.
Old Mutual Wealth with nearly £100bn in customer investments is part of Old Mutual, which has more than 16 million customers across the world and nearly £320bn in assets under management.
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