A round-up of corporate and M&A deals in June, July & August that affected wealth managers and private banks in the EMEA region, and in certain other parts of the world.
London-listed TEAM plc, a wealth, asset management and financial services group, bought all the share capital of Dubai-based Globaleye Wealth Management, aka Globaleye, a firm advising on £242 million ($300.5 million) of client assets. The deal involved a total consideration of up to £5.6 million.
In a separate deal TEAM said it conditionally agreed to acquire the entire issued share capital of Thornton Associates Limited, trading as Thornton Chartered Financial Planners, for up to £2.5 million. Thornton is an Isle of Man-based financial planning business, with assets under advice of £121 million and approximately 180 client groups.
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.