Smith & Williamson International, part of wealth management and professional services group Tilney Smith & Williamson which is re-branding to Evelyn Partners this summer, has completed a transaction to acquire the Trust and Private client book of 7IM Jersey.
7IM will continue to provide services to its Platform clients in Jersey.
Grant Hamilton, director at 7IM Jersey, will join Smith & Williamson International's office in St. Helier, Jersey.
We have seen considerable growth in our Jersey business in recent years and, as we prepare to re-brand to Evelyn Partners in the coming months, this deal recognises our ambition to continue expanding in the international market."
7IM Jersey provides investment management services to private clients and trusts, which will complement Smith & Williamson International's business which creates bespoke investment management strategies for a range of clients.
Within the broader Tilney Smith & Williamson group, the Jersey office also provides international tax and business advisory services.
Hamilton joined 7IM in 2017 with a remit to open and head up the firm's new Jersey office.
Prior to 7IM, he was a director at Rathbones in Jersey where he was responsible for developing relationships with trustees, consultants and private clients.
Hamilton is an associate member of the Institute of Financial Services and a member of the Chartered Institute of Securities and Investments.
Matt Falla, managing director at Smith & Williamson International said: "I am delighted that we have completed the acquisition of the Trust and Private client book and I would also like to warmly welcome Grant to our team. We have seen considerable growth in our Jersey business in recent years and, as we prepare to re-brand to Evelyn Partners in the coming months, this deal recognises our ambition to continue expanding in the international market.
"Grant brings considerable senior investment management experience working with leading financial services firms and I know he will be a great asset for our business as we continue with our growth strategy. This deal is also great news for 7IMJersey Trust and Private clients who will have the reassurance that they will continue to enjoy a personalised service from Grant and our team."
Hamilton added: "This is a wonderful outcome for both the clients and myself. Smith & Williamson International have an experienced and growing team in Jersey, tailored investment solutions for offshore and local clients and the backing of a leading wealth management firm in the UK.
"I am looking forward to engaging with the clients who are moving across to offer them the best of Tilney Smith & Williamson group."
Dean Proctor, chief executive at 7IM said: "We launched the 7IM Jersey Branch nearly four years ago, based on the increased demand for our investment services from outside of the UK. However, due to a range of extenuating circumstances, and following a strategic review, we intend to close the Jersey Branch, subject to regulatory approval. This will allow us to focus on our core business areas and clients.
"While it's always a difficult decision to close a branch, I'm pleased that Grant Hamilton will be joining Smith & Williamson International so he can maintain relationship and service continuity to the clients that are moving across with him."