TEAM Plc has acquired the entire issued share capital of Neba Wealth and Singapore-based Neba Financial Solutions Private in a deal worth around £1.2m.
This will result in the creation of a new division called TEAM East comprising of Neba and all the operations of Globaleye Group, which was acquired by the company in June 2023.
Globaleye and the Neba businesses are to be rebranded as Neba Private Clients, operating under the TEAM East division.
Neba’s John Beverley joins TEAM as the Managing Director of TEAM East, while Globaleye’s previous two senior managers have left the business. TEAM said it was “grateful for their leadership and smooth handover” to Mr Beverley.
TEAM plc (LON:TEAM) is building a new wealth, asset management and complementary financial services group. With a focus on the UK, Crown Dependencies and International Finance Centres, the strategy is to build local businesses of scale around TEAM’s core skill of providing investment management services.
