PensionsJul 14 2015

Momentum ramps up UK Sipp business stake

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Momentum ramps up UK Sipp business stake

Momentum Pensions Group has purchased an additional stake in its Manchester-based self-invested personal pension business Momentum Pensions Limited, meaning its stake now stands at 80 per cent.

Momentum previously held 50 per cent. The deal comes after Momentum’s initial share acquisition in October 2014, ahead of the launch of its Momentum Sipp.

Stewart Davies, group chief executive, said that since then there has been “huge demand” for the Sipp, to complement their qualifying recognised overseas pensions range.

“The completion of this acquisition is two years ahead of schedule and reflects the success of our business both in the UK and internationally.

“We continue to invest heavily in the group to ensure that we maintain growth, as well as make sure we provide unrivalled levels of service via our administration teams in four jurisdictions.”

The fully acquired office joins other outposts in Malta, Gibraltar and the Isle of Man as the rest of the group’s framework.

ruth.gillbe@ft.com