Quilter Cheviot Europe (QCE), a unit of Quilter Cheviot, is set to expand in Ireland with the acquisition of Dublin-based investment advisory firm GillenMarkets.

The companies did not disclose the financial terms of the deal.

Founded 15 years ago by Rory Gillen, GillenMarkets presently advises on over €600m of assets for approximately 500 families.

The acquisition will see the firm’s founder, five investment advisers, and their support team integrate into QCE.

GillenMarkets founder Rory Gillen said: “Quilter Cheviot has an excellent reputation in the market and due to our similar investment and client-focused philosophies, becoming part of a larger business with such investment resources, heritage and prestige feels like a great opportunity for both our clients and colleagues.

“Having built our business up over the last 15 years, we look forward to this next chapter as part of Quilter Cheviot, which is itself at an exciting juncture in its growth plans.” 

With the integration of GillenMarkets’ expertise, QCE expects to enhance its integrated investment management and financial planning solutions for clients in Ireland as well as across Europe.

Quilter Cheviot Europe cEO Andrew Fahy said: “GillenMarkets is a business that we have known and admired for many years and represents a fantastic fit for QCE. We are very excited to welcome Rory Gillen and all our new colleagues and clients to our thriving business. GillenMarkets has seen tremendous growth over the last number of years and we are really looking forward to working to support our new clients and their families. The transaction is really positive news for all concerned.

“This acquisition will really help to build on QCE’s scale and reach in the Irish market. Our ambition is to be the wealth manager of choice in Ireland and this is another milestone on that journey.” 

In June 2024, Quilter Cheviot developed a new tool to help staff of the Big Four accounting firms (Deloitte, KPMG, EY, and PwC) manage their investment portfolios.