1 November 2019
Completion of Investec Wealth acquisition makes Brewin Dolphin the third largest discretionary wealth manager in the Republic of Ireland
Brewin Dolphin, the wealth manager, has today announced the completion of the acquisition of Investec’s wealth management business in Ireland.
The €44 million acquisition substantially increases Brewin Dolphin’s presence in one of Europe’s fastest growing economies, making it the third largest discretionary wealth manager in the Republic of Ireland.
The completion marks the first formal step towards becoming an integrated business with a total of €4.8bn* assets under management and €50 billion across Ireland and the UK. With offices in Dublin and Cork, the Irish business will be the third largest Brewin Dolphin office by assets and is well positioned for future growth.
Commenting on the acquisition, Matt Minch, Brewin Dolphin Ireland’s managing director, said: “Our coming together enables us to combine the best qualities of both firms to deliver an even better service for clients in Ireland and to a wider audience. Our newly combined team will provide wealth management services of the highest standard, with unrivalled personal service that is best in class.
“The shared culture, values and investment philosophy of our two companies was one of the primary reasons for Brewin Dolphin Ireland seeking to join forces with Investec’s Irish wealth management business, allowing for the seamless integration of the two businesses in the months ahead.”
As one of Europe’s fastest growing economies, Ireland has attractive demographics for the wealth manager with one of the youngest populations in Europe and a growing demand for advice. Brewin Dolphin’s advice-led model and unrivalled private client capability is well-matched to the large and growing opportunity there. The combined Brewin Dolphin and Investec business will provide a comprehensive, personalised service that aims to meet the increased demand for wealth management products and services for professionals, business owners and retired clients.
Eddie Clarke, previously head of Investec’s wealth business in Ireland and now a director of Brewin Dolphin Ireland, said: “Given the ongoing evolution and change within the wealth management industry, we believe there is a clear strategic rationale for us to come together at this time. The additional scale, combined with a singular focus on wealth management, will allow us to continue to invest in delivering our clients world class, highly individualised wealth and investment solutions.
“We have known and admired Brewin Dolphin for many years. They have led the way in bringing a high touch personal approach to discretionary investment management in Ireland.“
*As of 30/9/19
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PRESS INFORMATION
For further information, please contact:
Powerscourt: brewindolphin@powerscourt-group.com Tel: +353 87 236 5973 or +353 87 901 6201
NOTES TO EDITORS
Disclaimers:
- The value of investments can fall and you may get back less than you invested.
- The opinions expressed in this document are not necessarily the views held throughout Brewin Dolphin Ltd.
- This information is for illustrative purposes only and is not intended as investment advice.
- Brewin Dolphin is authorised and regulated by the FCA.
- Brewin Dolphin Ireland is authorised and regulated by the Central Bank of Ireland.
About Brewin Dolphin
Brewin Dolphin is one of Ireland’s and the UK’s leading independent providers of discretionary wealth management. Brewin Dolphin continues to focus on discretionary investment management and manages c.€45 billion of funds on a discretionary basis. In line with the premium placed on personal relationships, Brewin Dolphin has built a network of offices across Ireland, the UK, and the Channel Islands, staffed by qualified investment managers and financial planners. We are committed to the most exacting standards of client service, with long-term thinking and absolute focus on our clients’ needs at the core.