Harwood to raise £10m as it eyes up more M&A
Harwood Wealth Management confirmed it intends to raise £10m through the placement of new ordinary shares to fund six future acquisitions totalling £3.1m.
Companies
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The Adviser Centre absorbs DFM platform
The Adviser Centre has acquired DISCUS, its second deal this year.
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Tesco hit over market abuse; investors challenge Booker deal
Tesco incurred the wrath of the FCA over an accounting mishap in 2014 on Wednesday and faced opposition from majority shareholders, Schroders and Artisan Partners, over its proposed takeover of Booker.
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BT slapped with £42m fine; FTSE 100 falters while sterling bucks up
The week kicks off with BT in hot water, a Trump-fuelled fall in the FTSE 100 and a redemption moment for sterling.
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C. Hoare sells dealing and custody business to Canaccord
London-based private bank C.Hoare & Co has decided to sell its remaining investment operations to Canaccord Genuity Wealth Management.
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Valuation nadir doubt hangs over Next
UK retail bellwether Next beat low analyst expectations in its 2016 results but doubt remains its low valuation will recover.
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Mirabaud eyes expansion as income rises
Geneva-based Mirabaud Group – parent of Mirabaud Asset Management – remains focused on expansion as it announced a 16.7% rise in consolidated net income for the year ended 31 December 2016.
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‘Brexometer’ stormy as global executives forecast fall in profits
Law firm Hogan Lovells found that 64% of respondents in its ‘Brexometer’ survey believe Brexit will reduce their profitability over the next five years.
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Progeny snaps up London-based IFA
Leeds-based wealth manager Progeny has begun its rapid expansion by supporting the management buyout of Quadrant, a firm of independent financial advisers located in London.
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Succession founder Chamberlain dies
Succession Group founder and group chief executive Simon Chamberlain died on Friday 17 March, aged 51.
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Bob Diamond set for London comeback with swoop for Panmure Gordon
Former Barclays chief executive Bob Diamond has teamed up with a Qatari investment bank to buy one of London’s oldest stockbroking firms Panmure Gordon.
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Jupiter’s Slenderbroek confronts M&A speculation
Jupiter Investment Management chief executive Maarten Slenderbroek has pre-empted takeover rumours by stating the firm is not in the market for M&A.
