Isle of Man-based investment advisory firm Blythe Financial has merged with Guernsey-based investment management group MitonOptimal International for an undisclosed sum.
The merger secured the go-ahead from the Isle of Man Financial Services Authority.
The regulator also approved a discretionary fund management (DFM) licence to Blythe Financial, which will now operate under the MitonOptimal brand. The combined group will focus on opportunities within the Isle of Man discretionary management market.
All management and staff of Blythe Financial will be retained as part of the deal, and its managing director Alan Blythe will join the board of directors of the merged business.
“When we first thought about partnering with another business, it was important to us that both the ethos and investment philosophy of that partner were aligned with our own. MitonOptimal is the perfect fit for the succession of our business to the next level and will further enhance the sophistication of our investment proposition,” Blythe said.
MitonOptimal group managing director and CIO Scott Campbell said: “We are very excited that Alan and Sue Blythe, plus their great team of people, will be joining the MitonOptimal group of companies, as we share the same investment philosophy and business culture.
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“Alan will be joining the MitonOptimal International Limited board of directors, and we look forward to a long a fruitful business partnership together, as we continue to develop our DFM business, advisory services and funds business on a global basis.”
Blythe Financial, a family-owned business, offers financial advice, financial planning and financial structuring solutions to its clients that include high net worth individuals, pension schemes, trusts and charities.
MitonOptimal, a specialist global multi-asset management firm, offers DFM, portfolio management, advisory services and multi-asset funds to intermediaries and institutional investors worldwide. The company has operations in Guernsey, South Africa, the UK, Isle of Man and Singapore.