Smith & Williamson and Rathbones in merger talks
The merger would take the form of a takeover by Rathbone and would give the combined company a value of £2bn
The merger would take the form of a takeover by Rathbone and would give the combined company a value of £2bn
Top 10 firm Smith & Williamson and investment firm Rathbones Brothers are in advanced stages of talks for a potential merger that would give the combined company a value of £2bn.
The merger would take the form of a takeover by Rathbone, and would bring together 3,000 employees across both firms.
Rathbones has a market value of £1.4bn and £36.6bn in assets under management. Smith & Williamson are valued at £600m and have funds under management and advice worth £19bn. This would give them a combined wealth of assets worth over £55bn.
It is not clear who would lead the company following the merger.
In a statement, Rathbones confirmed talks were ongoing: “Whilst these discussions have been underway for some time and the boards of both Rathbones and Smith & Williamson are confident that the combination would bring meaningful benefits for the stakeholders of both businesses, discussions are ongoing and there can be no certainty any transaction will be agreed.”
Smith & Williamson made comments echoing those of Rathbones, confirming that talks were ongoing but that there were no guarantees that a deal will be reached.
Both firms said that any decision would be subject to the approval of shareholders.
Earlier this summer Smith & Williamson announced 13 partner promotions.
More about:
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceDuring a conversation with Accountancy Age, Azets' newly appointed CFO Beth Crosier breaks down the importance of financial strategy when it comes to ...
View articleThe need to plug skills gaps and address talent shortages is driving deal activity in the accounting industry Read More...
View articleSome of the more granular aspects of the M&A process are often forgotten or left until it’s too late, experts say Read More...
View articleA surge in M&A UK deals is likely, but uncertainty added by Brexit could create a more bearish market Read More...
View articleWhat lies ahead for the international accountancy networks and associations? Accountancy Age asked for their views on opportunities, threats and where...
View articleThe 2019 Accountancy Age International Networks Ranking reveals steady growth of nearly 9% across the board, despite continuing global economic uncert...
View articleDeal creates major international accounting network with revenues approaching £1bn. Read More...
View articleCEO and co-founder of MarktoMarket, Doug Lawson explains how new business models are driving change in the accountancy and legal professions. Read Mor...
View article