Brewin Dolphin has announced it will purchase Investec’s business in the Republic of Ireland, for approximately EUR 44 million.

The announcement comes after Brewin confirmed in April it was in “exclusive talks” with Investec over the deal.

Investec’s RoI business has assets under management (AUM) of EUR 2.9 billion, which when combined with the local Brewin operation will mean total AUM is excess of EUR 4.6 billion.

The Investec RoI business turned over EUR 17 million last year – and an annualised growth rate of 20 percent over the last two years. The acquired business would be expected to generate a...