London-headquartered private investment office Signia Wealth has undergone a management buyout (MBO).
The financial terms were not disclosed.
John Caudwell, founder of Signia Wealth, has stepped away from the business following the deal. Caudwell set up the company over 13 years ago and he will continue to be a client of the firm.
Signia Wealth chief executive Carnegie Smyth and partner Greg Malone finalised the MBO via their holding vehicle Holdings29 Ltd.
Malone said: “This is a hugely exciting time for Carnegie and I alongside the wider team. As the business continues to grow, we are putting into action our future plans for the business.”
Smyth added: “John has always been a big part of the business. He has been so supportive over the years to me and the team. It was a real honour that he supported our next move and allowed us the opportunity to take the business into management hands. We will continue a very close relationship on multiple fronts.”
Signia Wealth creates investment strategies for individuals and institutions. It offers multi-asset and hedge fund investments, cash management and debt, and private capital solutions.
This article first appeared on our sister publication International Adviser.
