Six senior partners
of London-based private client wealth manager James Hambro &
Partners (JH&P) have acquired a majority stake in the
business.
The firm’s chief
executive Andy Steel said the acquisition by the management and
investment team highlights the desire to remain
independent.
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A JH&P spokesperson
said there was no indication that the business might by acquired by
external parties.
JH&P has grown
private client assets under management and administration to around
£400 m ($644m) since launching in January last year.
Acquisitions
keep coming
Australian fund manager
BT Investment Management agreed to buy at 100% stake in J O Hambro
Capital Management (JOHCM), an investment business of J O Hambro
Capital Management Group.
The sell-off comes as a
result of the firm’s strategy to strengthen its relationships with
investment professionals including fund managers. In turn, JOHCM
will retain a 9.9% stake in J&HP.
The management team at
JH&P remains unchanged with Jamie Hambro as chairman and Andy
Steel as chief executive.
The transaction is
subject of regulatory approval with the deal likely to close in the
fourth quarter.
