Jupiter Fund Management is considering the sale of its wealth management business, which manages assets worth £2.2 billion.
A number of private-client investment firms including Towry, Quilter Cheviot and Rathbones have emerged as possible bidders of the business, which is worth an estimated £50 million, according to the Sunday Times.
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Jupiter has chosen advisers from investment bank Evercore to oversee the sale of its wealth management unit.
The sale at a time when Jupiter chief executive Edward Bonham Carter will step down in March this year after working for 14 years. Carter will be replaced by Maarten Slendebroek.
Jupiter’s wealth management arm will account for about 7.5% of the group’s total assets under management.
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