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Tie-up talks

Wealth managers Tilney and Smith & Williamson in merger talks

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Wealth manager Tilney is understood to be in merger talks with Smith & Williamson to create a firm with revenue of nearly £500m and assets under management in excess of £45 billion.

The two firms, which have strong discretionary investment management businesses, have been in talks for a couple of months, according to The Sunday Times.

The discussions come two years after a tie-up had been discussed ahead of Smith & Williamson being courted by Rathbones, a deal that was aborted.

Smith & Williamson subsequently committed itself to a stock market listing by 2020.

Tilney was acquired by private equity firm Permira from Deutsche Bank in 2014.

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Hampden sees rise in business



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