Three companies acquired by River and Mercantile are to be brought under the company’s branding.
SVM Asset Management, Saracen Fund Managers and Revera Asset Management will all be brought under R&M branding and operating structure.
In a statement today (December 6), R&M said the changes are expected to take place next year.
Martin Gilbert, chair of R&M’s parent company, Assetco, said the firm’s aim is to develop an operating model for its asset management business which will improve scalability, drive material cost synergies and strengthen distribution.
“It is testament to the complementary nature of the active equity asset management businesses we have acquired and the co-operative manner in which they have worked together since, that they have been able to announce this coming together so quickly after becoming part of the AssetCo group of businesses,” he said.
“I am delighted to see the R&M brand go from strength to strength, building on the inherent strengths of each of the participating businesses.”
Chief executive of R&M, Alex Hoctor-Duncan, said the company sees a significant opportunity over the next few years to grow its market share in the UK and to move into new geographies.
“This reorganisation…will deliver significant benefits to clients across all four firms, as well as build on the strength of the River and Mercantile brand.”
AssetCo acquired R&M in January this year for £98.8mn, and embarked on an asset management spending spree.
In February it bought Revera Asset Management for £2.8mn, and then in June it paid £1.7mn for Scottish fund firm SVM Asset Management.
Saracen was purchased by AssetCo in May 2021.