Canaccord Genuity Wealth Management UK & Europe has agreed to acquire 100 client portfolios managed by the Isle of Man division of Duncan Lawrie Private Banking for an undisclosed sum.

Of the client portfolios to be acquired, 62% will be those using discretionary investment management and remaining 38% will be those using execution-only stock broking services. 

Canaccord said that the deal is part of its plan to boost its assets under management, which presently stand at more than £14bn for its wealth management businesses in the UK & Europe.

No Duncan employees will join Canaccord as part of the transaction, which is subject to approval from the Isle of Man Financial Services Authority.

Canaccord Genuity Wealth Management UK & Europe CEO David Esfandi said: "The acquisition of the Duncan Lawrie client portfolios on the Isle of Man is a great fit for our business, given our similar investment ethos and our synergies in client service.

“It is further proof of our wholehearted commitment to all the jurisdictions in which we operate.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The latest deal comes shortly after Duncan Lawrie was broken up and sold to Brewin Dolphin and Arbuthnot Latham as its parent Camellia quit the private banking industry. Brewin Dolphin agreed to acquire Duncan Lawrie's asset management business, while Arbuthnot Latham agreed to acquire Duncan Lawrie's private banking loan portfolio.