Brooks Macdonald agrees £10m acquisition of Lloyds' Channel Islands business

Mike Sheen
clock • 3 min read

Brooks Macdonald Asset Management is set to acquire Lloyds Bank's Channel Islands wealth management and funds business in a cash deal worth almost £10m. The deal, which is expected to complete subject to regulatory approval in the fourth quarter of this year, will see Brooks Macdonald purchase 100% of the share capital of Lloyds Investment Fund Managers (LIFM) and its £1bn of discretionary assets. In total, the deal is expected to cost just over £9.6m including £2.5m of regulatory capit...

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