London & Capital and Waverton IM to merge into £17bn wealth manager
Lovell Minnick Partners (LMP) will take a majority shareholding
Companies
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St James’s Place share price falls over 30% following full-year results
Citi and JP Morgan Cazenove react to dividend cuts and provisions
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Abrdn suffers 35% increase in outflows in full-year results
Adjusted operating profit in the investments arm of the business shrunk by 62% in 2023
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Square Mile’s Romer-Lee named Titan AM co-CEO
Regulator approved Titan’s acquisition of Square Mile on Friday
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Pictet profits down 25% after paying $123m to US authorities
Losses would have been shallower without its payment to the US Department of Justice for shielding client money from taxation
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Ashmore suffers net outflows of £3.6bn as investors remain underweight emerging markets
More than 60% of the firm’s portfolios beat their benchmarks over 12 months
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Just eight asset managers achieve Morningstar’s top ESG rating
Majority of firms have improved their practices
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Evelyn Partners rebound with 11.5% increase in AUM for 2023
AUM grew from £53bn to £59.1bn due to inflows and market performance
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Premier Miton completes Tellworth acquisition
Tellworth business will transition onto Premier Miton platform in June
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ShareSoc: Woodford delay suggests ‘serious and complex arguments’ being considered
Decision on sanctioning scheme of arrangement postponed until early February
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St James’s Place net inflows halve as Jefferies lists stock as ‘buy’
New CEO Mark FitzPatrick will review ‘all elements of the business’ as he plans for 2030
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UK companies drop special dividends by 79% in 2023
Special dividends fell by more than three quarters in 2023, but bank payouts ‘more than offset cuts’
