Credit Suisse Group AG has agreed to sell British wealth manager JO Hambro Investment Management Ltd. (JOHIM) to Bermuda National Limited (BNL) for £50m.
Under the terms of the deal, management and staff of JOHIM will have the opportunity to become shareholders alongside BNL. The JOHIM management team will have continued autonomy over the running of the business.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
JOHIM is a London-based investment manager specializing in discretionary portfolio management for private clients, charities and institutions and has a range of in-house managed investment funds.
JOHIM has around £3.6bn in assets under management and £4.8bn in assets under control.
Credit Suisse bought London-based JO Hambro, which employs about 100 people, in 2001 for £100m.
Hugh Grootenhuis, CEO of JOHIM, said: "We welcome BNL as our new majority shareholder who offers opportunities for us to continue to grow the business, including in areas where we would otherwise not have direct access, such as in emerging markets."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"The change of ownership has been made with our clients’ interests uppermost in our minds to ensure the right deal both for our clients and for all the staff at JOHIM. There are no plans to change our people, business model or investment process," Grootenhuis said.
BNL is a Bermuda listed financial services holding company created to own financial institutions, including banks and investment advisory businesses. Its major investor is Utilico which is a UK listed international investment group with a diversified portfolio of businesses.
