Davy said this deal, along with the acquisition of Bloxham’s private client business, announced last March, adds about 1.2bn to the asset value under management at the firm.
Bloxham’s asset management team, headed by Pramit Ghose, will move to Davy with immediate effect.
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Davy CEO Tony Garry said, "The client assets currently held by Pershing are scheduled to transfer to Davy on 6 June 2012 which will ensure continuity of service for these clients."
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