Investec acquires Murray Asset Management
Investec Wealth & Investment has acquired Edinburgh-based Murray Asset Management.
The acquisition of the wealth manager for an undisclosed sum will see the 20-strong team transfer to the new owner.
Barbara-Ann King, who was appointed Investec Wealth chief executive this week, said: “We have ambitious growth plans to build Investec Wealth & Investment into a business that is truly market-leading and delivers a best-in-class client experience.
“The acquisition of Murray Asset Management is an integral part of our strategy to enable us to deliver our financial advice services to more clients throughout the UK.”
Investec plans to complete the acquisition by the end of September.
Murray Asset Management was spun-out of law firm Murray Beith Murray in 2008.
Chief executive Ruthven Gemmell said: “By joining forces with Investec, we believe our clients will benefit from the enhanced services.
“This is the next logical step for the development of our business and we are looking forward to becoming part of the Investec team.”