The £44bn merger between Tilney and Smith & Williamson is set to complete on 1 September, having previously been delayed by the coronavirus pandemic and intervention from the Financial Conduct Authority, Investment Week has learned.
Earlier this year, disruption caused by the coronavirus pandemic held up the merger, while the regulator identified "a number of issues" with the previous terms of the deal. In September 2019 the firms confirmed the merger, which is set to create a £44bn AUM business under the name Tilney Smith & Williamson with chief executive of Tilney Chris Woodhouse set to become group chief executive. Amid the disruption, private equity firm Warburg Pincus entered the fray to co-invest in the business alongside existing investor Permira, as part of a revised transaction structure. Now, in a S&...
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