Merger expected between Saltus and Montague
Saltus Fund Management has completed a deal with Midlands-based Montague Capital, which will result in a combination of the two discretionary businesses.
According to a statement from Saltus, it has acquired the brand name and intellectual property of Montague, and the deal means Saltus will provide investment management services to Montague under a transitional arrangement.
During this time, Montague clients will be invited to transfer to Saltus.
Simon Armstrong, a partner of Saltus, said the acquisition will benefit both Saltus’ and Montague’s clients and introducers. The move will allow Saltus to significantly broaden its product offering, while Montague clients who transfer will benefit from the additional investment research capability and operational infrastructure that Saltus will provide.
Mr Armstrong said: “The integration of the new business should be seamless and we look forward to earning the respect and trust of Montague’s clients and introducers. The shared vision and culture was a key factor in the attraction of this deal.”
Julian McGinnity, chief executive of Montague, said: “I am pleased to announce I will continue to have an active role within the new enlarged business, and look forward to working with the team at Saltus.
“It was important to me to find a partner who shares the same core values regarding client service and investment philosophy. As such I am confident that the transition to Saltus will be a positive experience for our clients and introducers. All of those I have spoken to have expressed their support for the move.”