European Wealth buys Xcap Nominees

EUROPEAN Wealth Group Limited, the AIM-listed integrated wealth management group, has acquired Xcap Nominees.

The acquisition brings a further £30m of assets to European Wealth’s Manchester office, opened in late 2014, which has a team of six investment managers, servicing clients both within the local area and throughout the UK.

The office also has an increasing international focus, providing a range of sophisticated investment services to professional intermediaries across the Far East.

Further evidence of the international expertise in the Manchester office is the appointment of European Wealth as the preferred discretionary investment manager to the Montpelier Group of businesses based in Malaysia and Thailand, with combined assets under management of over £100m.

John Morton, the Executive Chairmen of European Wealth, said: “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.”