William de Broe acquires Singer & Friedlander IM

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2008-10-20 22

William de Broe acquires Singer & Friedlander IM
Hannah Stodell - 21-Oct-2008
Evolution-owned wealth manager Williams de Broe is to acquire the assets and investment team of UK discretionary manager Kaupthing Singer & Friedlander Investment Management, Money Marketing understands.
The Icelandic banking subsidiary has been in administration since October 8 and William Broe is reported to be in advanced talks to buy the company in a deal for around £10m.

It is understood that that Williams de Broe is likely to move Singer’s AUM to its existing platforms in the event of a successful takeover.

Reports state that Evolution is also in talks to act as a financial guarantor for the group’s brokering division Kaupthing Capital Market in return for an undisclosed stake.