A NICHE pension and investment division of Deloitte has been bought out by its management team and LJ Group merchant bankers.
The Investment and Pension Consulting (IPC) division of Deloitte Private Client Services was bought out by its senior management team, led by Neil Beaton, and the LJ Group. This has led to the formation of LJ Athene Investment Advisors. Deloitte has said that this does not affect its corporate pensions work.
Beaton, who takes the role of chief investment officer in the new firm, said: “I am very excited about this transaction because by setting up as an independent investment advisory business we can continue to look after and advise our clients in the manner that is most appropriate to their particular circumstances.
“Furthermore, the benefit of having LJ Group as a significant shareholder will provide strength to our business and comfort to our clients.”