InvestmentsMay 4 2016

Tilney’s assets rise to £11bn after Igenious acquisition

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Tilney’s assets rise to £11bn after Igenious acquisition

Tilney Bestinvest has completed its acquisition of Ingenious Asset Management, swelling the company’s assets to more than £11bn.

The acquisition, first announced on 5 February, had been subject to regulatory approval.

With the ransaction now complete, all Ingenious Asset Management staff have relocated to Tilney Bestinvest’s offices in Mayfair, London.

Ingenious Asset Management has been renamed Tilney Asset Management and, along with the group’s investment management and financial planning teams, ikt will operate under the Tilney brand.

As result of the acquisition Tilney Bestinvest’s assets under management and administration will increase to more than £11bn, predominantly in managed portfolios.

Guy Bowles, formerly chief executive of Ingenious Asset Management, becomes head of investment management London for Tilney with immediate effect.

Peter Hall, chief executive of Tilney Bestinvest, said: “We are delighted to have completed this deal and to welcome our new colleagues to Chesterfield Gardens.

“The team at Ingenious Asset Management are very high-quality professionals, and their investment approach is complementary to our own, so we believe this represents an excellent combination.

“Importantly, it significantly bolsters our investment management team in London and further deepens our presence in the high net-worth and ultra-high net-worth client segments.”

The completion of the purchase of Ingenious comes just a month after Tilney Bestinvest bought Towry for £600m.