Heartwood Wealth Management is to drop its original name as the asset manager looks to adopt its parent company's name in a rebrand.
The London-based firm announced today (November 24) it had decided to “fully migrate” to its parent brand, Handelsbanken, to “reflect the complementary nature and close working relationship” between the two firms.
Swedish bank Handelsbanken originally bought Heartwood in 2013, saying at the time that the UK was the firm’s “fastest growing market”.
The firm will now be collectively known by its new name of Handelsbanken Wealth and Asset Management.
The wealth management business will retain its current name of Handelsbanken Wealth Management while the asset management firm, previously known as Heartwood Investment Management, will become Handelsbanken Asset Management.
Through the rebrand, the prefix in the firm’s fund names will also switch from Heartwood to Handelsbanken.
A new website — at wealthandasset.handelsbanken.co.uk — will bring together the group’s advice and investment capabilities and replace the two separate websites.
Graham Turner, who has taken on the role of chief executive of the firm, subject to regulatory approval, said: “Heartwood has been part of Handelsbanken for seven years, and the name change reflects our desire to be a fully integrated business.
“It is a natural step in our evolution and will ultimately enable us to deliver more value to our customers, with a best-in-class wealth and investment management proposition.”
Mr Turner was previously regional head of Handelsbanken Central UK before moving into the CEO role last month.
imogen.tew@ft.com
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