Private bank Brown Shipley has announced it is acquiring Cambridge-based wealth manager, NW Brown & Co.

The acquisition is part of Brown Shipley’s growth strategy as it looks to add scale and expand in the regions, it said.

Founded in Cambridge in 1974, NW Brown works predominantly with private clients offering financial planning and investment management services. The business also provides a range of services to corporates, including employee pensions, and manages investment portfolios.

The addition of NW Brown is said to increase Brown Shipley’s total assets under management to almost £9 billion.