M&A Deals
European Wealth discovers liabilities at US acquisition target
Guernsey-based European Wealth Group’s $1.7bn acquisition of US broker Newbridge faces a fresh hurdle despite receiving regulatory approval.
UAE lender buys Turkish private bank for $3.2bn
Dubai’s Emirates NBD has agreed to buy Turkey’s Denizbank from Russia’s state-owned Sberbank for $3.2bn.
7IM buys family office focused DFM
Seven Investment Management has agreed to take over Tcam Asset Management in a bid to enhance its active management capabilities despite the Scottish firm last year expressing caution about merging with another company.
Australian banking giant to exit wealth management
National Australia Bank (NAB) is to exit its advice, platform, superannuation and asset management business by the end of 2019, according to the bank’s financial results.
Harwood WM makes second acquisition in a week
UK financial planning firm Harwood Wealth Management has made its third IFA acquisition of 2018 by acquiring Fund Management Limited for £1.13m ($1.5m, €1.2m).