View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
February 27, 2014updated 04 Apr 2017 2:28pm

DeAWM agrees to Tilney sale

Deutsche Asset & Wealth Management (DeAWM) has agreed to sell their Tilney business, a subsidiary of their UK operations, to the Permira funds.

By Patrick Brusnahan

Deutsche Asset & Wealth Management (DeAWM) has agreed to sell their Tilney business, a subsidiary of their UK operations, to the Permira funds.

Permira will acquire the Tilney businesses, giving Permira a further £9 billion assets under management. The European private equity group is understood to be looking at merging the business with Bestinvest, which it recently bought.

Tom Slocock, head of wealth management in the UK, said: "Deutsche Asset & Wealth Management will continue to focus on providing wealth management services from our London office. We are expanding the range of high quality solutions we offer wealth management clients and their families."

As exclusively reported by Private Banker International, Permira are planning to make one wealth management acquisition per year for the next five years.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International