23rd Nov 2015 08:59
LONDON (Alliance News) - European Wealth Group Ltd on Monday said it has struck a deal to acquire Xcap Nominees for an undisclosed fee.
The wealth manager said the deal will add a further GBP30.0 million in assets to its Manchester office.
The firm also said it has been named preferred discretionary investment manager for the financial services company Montpelier Group in Malaysia and Thailand, which has around GBP100.0 million in assets under management.
"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," said John Morton, European Wealth's executive chairman.
European Wealth shares were untraded on Monday, having last traded at 83.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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