Cheviot and Quilter focused on growth after merger
WEALTH management firms Quilter and Co and Cheviot Asset Management say their recently-approved merger is “all about growth”.
Cheviot’s Liverpool head Simon Walker, who will lead regional business development when the two offices are combined, said the combination of the two organisations would be good news for clients and staff.
He told TheBusinessDesk.com: “This merger icreates a new force in terms of size of assets – £1bn under management in the North alone – and also resources with our teams in Liverpool, Manchester and North Wales. The combination is not about cutting costs at all, but about growth.”
New premises in Liverpool will be sought for the combined firm which will be known as Quilter Cheviot. The head of Quilter’s Liverpool office, Richard Thorn, will lead the firm, which will have 28 staff in the city.
Mr Thorn said:“It’s very much business as usual for our clients. Now that the formalities with the regulator have been concluded work can begin in earnest on the integration of the back office systems which will underpin the new organisation.
“Fortunately, each business unit complements the other well and, crucially, we share a common investment philosophy and approach to the way we work with our clients.”
Mr Walker said Quilter Cheviot may look at expanding east to Yorkshire if “the right opportunity presents itself.”
“Both Cheviot and Quilter have clients in Yorkshire and the North East already, and while there’s nothing imminent, it is something we would look at.”