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Sipp giant Embark eyes stock market flotation

Sipp giant Embark eyes stock market flotation

Embark Group has said it is considering whether to float on the stock exchange.

It comes after the self-invested personal pension business appointed KPMG as its auditor to help it achieve this objective.

Following a period of rapid expansion, Embark now provides services to around 110,000 consumers and administers some £11.5bn of assets on their behalf.

In recent years Embark, which is the parent company of Sipp provider Hornbuckle, has been highly acquisitive, creating a giant in the self-invested personal pensions space.

Last year it bought Rowanmoor Group and earlier this year it snapped up EBS Management from rival Charles Stanley.

It also recently bought DFM research firm Discus.

Richard Gabbertas, KPMG audit partner, said: “Embark represents to us exactly the kind of client that we wish to work with.

“They are ambitious, focused and confident, demonstrated by their rapid growth over the last few years.

“The medium term agenda of the business, including a potential IPO, is perfectly matched to our core competencies and our deep financial services experience.

“Hence we are delighted to retain and expand our mandate with the Embark team.”

damian.fantato@ft.com