Wealth management firm confirms talks over possible acquisition

Wealth management group Rathbone Brothers this morning confirmed it is in talks regarding a possible acuisition of investment management firm Speirs & Jeffrey.

The firm, which has a key operations centre in Liverpool’s Port of Liverpool Building, was responding to press comment about contact between the two firms.

In a statement issued this morning, they said: “The board of Rathbone Brothers Plc notes the recent press speculation regarding Speirs & Jeffrey Limited.

“Rathbones regularly assesses various acquisition opportunities in line with its stated strategy and accordingly confirms that discussions between Rathbones and Speirs & Jeffrey in relation to a possible acquisition of Speirs & Jeffrey by Rathbones are taking place.”

It added: “No binding offer has been made and there can be no certainty that any binding offer will be made, nor that agreement will be reached with the board and shareholders of Speirs & Jeffrey.

“A further announcement will be made if, and when, appropriate.”

Speirs & Jeffrey is one of the UK’s leading investment management firms.

Based in Glasgow, it advises and manages UK and international equity and fixed interest investments.

The firm manages portfolios for individuals, families, trusts, charities, pension funds and institutions.

The Glasgow office services clients in the UK and overseas.

In 2006 the firm celebrated its centenary.

The business has always been wholly owned by the working directors, and in more than 100 years there have only been 21 partners/directors, 10 of whom are in the business today.