Investment management firm acquired
Leeds-based investment management firm Myddleton Croft, which has funds under management of £96.5m, has been acquired by wealth management firm Charles Stanley.
Formed in 2006 and based in Leeds, for the year ended 30 June 2018 Myddleton Croft had revenues of £1.1 m.
Paul Abberley, Chief Executive of Charles Stanley said: “I am delighted to welcome the Myddleton Croft team to Charles Stanley who will further strengthen our presence in Yorkshire and the North East. Myddleton Croft’s business model and client base, together with its well-established name and reputation, make it an excellent fit for us.
“We are committed to providing its clients with a seamless service and continuing the first-class levels of client care that they have come to expect and that we pride ourselves in delivering. They will also be able to benefit from our broader range of services if needed.”
The deal will see all of its investment managers join Charles Stanley. Patrick Toes, Carolyn Black and Robert Feather will report into Simon Martin, Branch Manager of Charles Stanley Leeds, and Jonathan Baker, who now has overarching responsibility for Charles Stanley’s northern hub comprising Leeds and Manchester.
Charles Stanley’s Leeds office has continued growth plans and is currently recruiting for additional investment managers.
Julie Jones, Managing Director of Myddleton Croft says: “We are excited to be joining forces with Charles Stanley where we can achieve the next phase of business growth. They offer the right mixture of culture, high service standards, and location without compromising our investment philosophy, which is important to us.”
FCA consent for change of control has been provided.
