Marlborough Group will merge Marlborough Fund Managers and Marlborough Investment Management to create a single business.
It will be called Marlborough and will have around £6bn ($8bn, €7bn) of assets under management.
All fund governance, risk and operations capabilities will be brought together under authorised corporate director (ACD) business, IFSL.
This means that the business will become ACD for the 18 funds in the range from Marlborough Fund Managers, with the newly merged Marlborough acting as investment adviser.
Following the reorganisation, IFSL will be responsible for approximately £11bn of Marlborough Group and external fund assets.
The investment teams will remain the same after the merger and fund charges will also be unaltered.
As a result, current director of strategy and business development Richard Goodall will become chief executive of Marlborough.
Wayne Green and Allan Hamer, joint managing directors of Marlborough Fund Managers and IFSL, will become co-chief executives of IFSL.
Recruitment drive
Nicholas Cooling, deputy chairman of the Marlborough Group, said: “The same highly respected investment teams will remain firmly at the helm and our investors can be assured it’s very much business as usual. That means we’ll be maintaining the same unswerving focus on delivering the best possible returns for them.
“The advantage for the group of the new operating model is that it creates two companies with very clear and distinct roles. Marlborough will be our investment management company and IFSL will be the ACD business.
“That clarity of purpose will enable us to achieve still greater efficiency in the delivery of our business strategies and provide an excellent foundation for the next stage in our growth story.”
Additionally, Marlborough Group is looking to add more professionals to its 200-strong staff as it eyes its next phase of growth.
The group also intends to expand IFSL by partnering with investment management and financial advisory firms with the aim to roll out more funds.
The hires will be within the firm’s fund operations, marketing, sales and compliance divisions.
Last year alone, it hired nine professionals in strategic partnership, business development and admin roles to support the multi-asset business and the opening of an office in Bristol.
Cooling added: “We’re emerging from the crisis with more ambitious growth plans than ever. We see a tremendous opportunity to work in partnership with more adviser businesses who share our entrepreneurial spirit, offering our experience and expertise to help them prosper and grow by achieving great outcomes for their clients.”
