Lansdown-backed investment firm Ravenscroft is to acquire Royal London Asset Management Channel Islands (RLAM CI) to bolster its existing cash management offering.
RLAM CI is being bought along with Royal London Custody Services CI by Guernsey-based Ravenscroft for an undisclosed sum from Royal London Mutual Insurance Society. Subject to approval by the Guernsey Financial Services Commission, the acquisition will see Ravenscroft's assets under administration increase to more than £6.5bn. All five employees from the Royal London CI companies will move across to Ravenscroft once the sale has completed. The two companies will be rebranded as Ravenscroft. Lansdown-backed Ravenscroft takes 25% stake in tech firm Mark Bousfield, group managing d...
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