Swedish bank Svenska Handelsbanken AB has completed the acquisition of Heartwood Wealth Group Ltd, British wealth management firm.
Handelsbanken has now received approval from the British financial supervisory authority (Financial Conduct Authority) to acquire Heartwood, after which all the conditions for the acquisition have been met.
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Handelsbanken said that it is acquiring all shares in Heartwood, including its wholly owned subsidiary Heartwood Wealth Management Ltd.
This deal will have a marginal impact on the Handelsbanken Group’s key figures.
Heartwood has some 90 employees and conducts discretionary management with assets under management of approximately GBP 1.6 billion.
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