The change, which is scheduled to take place next April, will set the UK advisory business out from other European AWD businesses, which are all to be rebranded under the Swiss Life Select banner.
Hannover-based AWD originally acquired Chase de Vere from Bank of Ireland in 2005. The UK business has always been run as an autonomous independent company, and this will continue to be the case.
However, rather than reporting to AWD in Germany, the executive board will instead report directly to Swiss Life in Zurich.
Stephen Kavanagh, chief executive, said he was pleased that the Chase de Vere brand will be retained: “This brand is highly thought of by our clients, professional contacts and within the financial services industry.
“For everything else it is very much business as usual. We are extremely well positioned to meet the challenges of the Retail Distribution Review and will continue with our current strategy, focusing on providing high quality advice and service to our clients, as we aim to become the leading firm of independent financial advisers in the UK.”
