Wealth management firm lines up £52m Irish deal

Deal agreed
X The Business Desk

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Wealth management firm Brewin Dolphin is in talks to acquire Investec’s wealth management business in Ireland.

Reports over the weekend said that the firm was in competition with Allied Irish Bank to snap up the private client business for up to £52m.

This was confirmed this morning, when Brewin Dolpin issued a statement saying: “Brewin Dolphin notes the recent press speculation regarding its interest in acquiring Investec’s wealth management business in the Republic of Ireland.

“Brewin Dolphin is in exclusive discussions with Investec in relation to this possible acquisition.

“Discussions are ongoing and there can be no certainty that a transaction will be agreed.”

Brewin Dolphin is one of the largest British investment management and financial planning firms with 39 offices throughout the UK and Channel Islands.