Gilbert rebrands asset firms under R&M banner
Martin Gilbert is pulling together the four active equity asset management businesses of AssetCo under the River and Mercantile (R&M) brand.
The changes are expected to take place next year and will see R&M merge its operating structure with SVM Asset Management, Saracen Fund Managers and Revera Asset Management.
This is part of R&M’s strategy to establish a number of high performing capabilities and combine them with the research facilities and depth of resource of the enlarged group for the benefit of clients.
Former Standard Life Aberdeen co-CEO Mr Gilbert, chair of AssetCo, said: “Our aim has always been to develop an operating model for our asset management businesses, which will improve scalability, drive material cost synergies and strengthen distribution.
“It is testament to the complementary nature of the active equity asset management businesses we have acquired and the co-operative manner in which they have worked together since, that they have been able to announce this coming together so quickly after becoming part of the AssetCo group of businesses.
“I am delighted to see the River and Mercantile brand go from strength to strength, building on the inherent strengths of each of the participating businesses.”
Alex Hoctor-Duncan, R&M’s CEO, said: “We see a significant opportunity over the next few years to grow our market share in the UK and to move into new geographies.”
He said the reorganisation “will deliver significant benefits to clients across all four firms, as well as build on the strength of the River and Mercantile brand”.
Graham Campbell, CEO of Saracen Fund Managers, commented: “We have been working closely with the R&M team over the last few months and can already see the benefits of a unified equity team, led by James Sym, as well as the enhanced distribution capabilities of R&M.”
Colin McLean, managing director & CIO of SVM Asset Management, said: “I am enormously proud of everything we have achieved over the last 30 years. I am excited to see, and help, the business develop under the River and Mercantile name in the future.”
James Sym, head of equities at R&M, added: “Successful boutique asset managers have at their heart a strong investment process, an innovative and collaborative culture and talented individuals who enjoy coming to work.
“We are very fortunate to have these in place at R&M and have been enjoying working closely with our new colleagues as we continue to bring our investment capabilities to a wider audience.”