Wealth manager Rathbone Brothers is in exclusive talks with Smith & Williamson (S&W) over a possible all-share merger, which would create a financial services group with around £56bn in AUM and advice.
Sky News first reported on Saturday that Rathbones was close to agreeing a deal with Smith & Williamson, as consolidation continues apace in the UK wealth management sector. Rathbone Brothers later confirmed in a statement that the two groups were in exclusive talks, adding: "Whilst these discussions have been underway for some time and the boards of both Rathbones and Smith & Williamson are confident that the combination would bring meaningful benefits for the stakeholders of both businesses, discussions are ongoing and there can be no certainty any transaction will be agreed. "Howev...
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