Wealth managers Tilney and Smith & Williamson in merger talks
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.