UK financial services company Walker Crips delisted from the London Stock Exchange today following its acquisition by Singapore-headquartered investment and wealth management group PhillipCapital.
The completion of the deal also saw Mark Nelligan resign as a non-executive director of Walker Crips. Hua Min Lim and Linus Lim, representatives of the PhillipCapital Group who were previously appointed as non-executive directors to the Walker Crips board, will remain as directors of Walker Crips.
PhillipCapital will retain the Walker Crips brand and Walker Crips’ head office will remain in London. Walker Crips’ joint chief executives, Sean Lam and Christian Dougal, and other members of the senior management team will remain with the Walker Crips Group.
PhillipCapital said the deal will support Walker Crips’ organic and inorganic growth strategy for its investment management business and structured products offering, as well as reducing operational costs and scaling up the firm’s use of technology.
Sean Lam and Christian Dougal, joint CEOs at Walker Crips Group, said: “Today represents the start of a bright new chapter for Walker Crips.
“We have known and respected the senior team at PhillipCapital for many years and have benefitted from their shareholding in our business for over three decades. This transaction represents their ongoing commitment to the group and our clients.
“With the backing of a global financial services group, we now have the stability and resources to continue to develop innovative and truly bespoke services for our clients.”
