Rathbones Investment Management has added around £450m in assets to its books by finalising the takeover of Barclays Wealth Personal Injury and Court of Protection operations.
The deal was announced in November last year.
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Financial terms of the transaction were not revealed. The deal is said to be funded using existing capital reserves.
As part of the deal, the acquirer absorbed 10 employees and 600 clients of the Barclays unit.
Rathbones Investment Management is a unit of wealth manager Rathbone Brothers (Rathbones).
Rathbones serves private clients, charities, trustees and professional partners.
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By GlobalDataThe firm has a presence in 15 UK locations and Jersey. Its employee headcount is more than 1,500.
In 2018, Rathbones closed the acquisition of Scottish investment manager Speirs & Jeffrey.
The deal added £6.7bn in funds under management to Rathbones.
Commenting on the latest deal, Rathbones CEO Paul Stockton said: “This transaction represents another success for Rathbones as we deliver on our growth strategy.”
Last month, Rathbones announced it is working towards shuttering majority of its offices on a temporary basis due to the Covid-19 pandemic.
However, its office in Liverpool office will continue to be open to provide critical operational functions.
The firm also asked its staff to work remotely.
