Greg Morris, the founding senior partner, of The Austen Morris Associates Group of Companies has purchased Mauritius-based advisory firm Personal Capital Management (PCM), for an undisclosed amount.Austen Morris Associates International already has a presence in Mauritius, being the holders of a global business - investment advisor (nrestricted) license in the region.
PCM's managing director and owner Mark Blencowe will retire following the M&A deal and move back to the UK," the company said in a statement.
Blencowe said: "In handing over the reins of PCM to AMA, I am confident that I have made the right decision, both for myself and for our clients. They are the perfect institution to take over, and I have no doubt that each client will benefit enormously from their professionalism and global expertise."
This is the third international acquisition over the past two years by AMA."With well in excess of $1,2BN dollars under management and contractual obligations, offices and representation in, we are very pleased and privileged to have completed this acquisition," the statement concluded."My best wishes go out to Mark Blencowe and I thank him for his professionalism and dedication over the past three decades within the financial services industry."