Assetco has announced plans to pull together four of its asset management subsidiaries under the River & Mercantile (R&M) brand in 2023.
Under the proposal, SVM Asset Management, Saracen Fund Managers, and Revera AM will merge into a common brand and operating structure.
The Martin Gilbert-backed (pictured) asset and wealth management business has carried out several acquisitions over the past two years.
Gilbert said: “Our aim has always been to develop an operating model for our asset management businesses, which will improve scalability, drive material cost synergies and strengthen distribution.”
Alex Hoctor-Duncan, R&M’s chief executive, said: “We see a significant opportunity over the next few years to grow our market share in the UK and to move into new geographies. As part of this, I am delighted to announce this reorganisation which I believe will deliver significant benefits to clients across all four firms, as well as build on the strength of the R&M brand.”