Cheviot and Quilter in merger talks

WEALTH managers Cheviot Asset Management and Quilter & Co are in advanced merger talks.

Both have their headquarters in London but Cheviot opened at Liverpool’s St Paul’s Square last year and Quilter has offices in Manchester and Liverpool.

Quilter, with a national office network, is the larger of the two with around £8bn under management. Cheviot has some £4bn.

A spokesman for Cheviot said: “We can confirm we are in advanced discussions with Quilter & Co about a merger of our businesses.

“Any deal arising from these discussions would make client service an absolute priority and would result in the creation of a business with exceptional strength in London and an unrivalled presence across UK regions.”

TheBusinessDesk understands that existing services would not change and senior partners at each firm would remain in position.

Cheviot’s Liverpool office was its first outside London when it opened, staffed with eight people from the Liverpool office of Deutsche Bank Private Wealth Management.

Quilter, which can trace its roots back to 1771, was acquired by the private equity group Bridgepoint in February.