Companies

Global investment bank Nomura has hired over 20 private bankers and investment advisors in its international wealth management business.

An acquisition involving a relatively small UK wealth management firm with annual turnover of around £10 million and client assets under management of approximately £1.5 billion would not normally merit much attention.

GAM expects to report an underlying pre-tax loss of approximately CHF 15 million in its full year results for 2020.

2021 will be a “year for recovery”. This is according to Christophe Donay, chief strategist and head of macro research and asset allocation at Pictet Wealth Management, and Cesar Perez Ruiz, chief investment officer and head of investments.

AFH Financial Group, which describes itself as a financial planning-led wealth management firm, has kept profits steady in 2020.

Wealth manager Kingswood has launched an adviser academy.

Hawksmoor Group Limited (HGL) is set to be acquired by Hurst Point Group, a portfolio company of The Carlyle Group, a global investment firm.

Consolidator Fairstone has announced its purchase of Berkshire-based Hammett and Petch Financial Planning, kick-starting another busy year of deals, it says.

Glasgow-based financial planning firm Murphy Wealth has appointed Neil Bage to the new role of chief behavioural officer and promoted John Moran to executive chair.

UK wealth manager Succession Wealth reported an operating loss of £3.6 million in its unaudited financial results for the year ended 31 December 2020.