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Completion of London & Capital and Waverton Merger

By London & Capital | 02 Jul, 2024

We are delighted to announce that we have completed our merger with Waverton Investment Management Group, following approval by the Financial Conduct Authority (FCA).

This strategic move will bring together our international advice and planning expertise with the investment performance and wealth solutions of Waverton to create an industry leading, independent wealth and asset manager, with AUM of over £19 billion.

The integration of our businesses is now well under way, with London & Capital’s CEO, Guy McGlashan, assuming the role of CEO of the combined business with immediate effect. Former Waverton CEO, Nick Tucker, will be taking a place on the Board of the combined company. The business will be referred to as L&C Waverton over the coming months, whilst a brand review exercise takes place.

Our combined business will serve a range of client profiles, including high net worth and ultra-high net worth families, charities, financial advisors and institutional clients, both in the UK and internationally. It will benefit from a robust and scalable operating platform to provide exceptional international advice and planning expertise, underpinned by top-decile investment performance and wealth solutions.

“Following the FCA’s approval of the merger, we mark a very significant milestone today as we formally start to combine our two businesses to build a market leading client proposition and platform for growth” said Guy McGlashan. “Looking ahead to the coming months, we will continue to work towards a comprehensive integration, supported by our shared values, client-focused cultures, and entrepreneurial spirit. We are prioritising collaboration, and teams are already co-locating across our office sites to deliver our best-in-class services to clients, who will soon start to see the benefits of our enhanced offering.”

“I could not be more proud of what Waverton has achieved over the past five years and the merger with London & Capital marks the next stage in our ambition to become a market leading wealth and investment manager” said Nick Tucker, former CEO of Waverton. “Given the shared values and client focused cultures of the two businesses, and the enthusiasm of both teams to make the merger succeed, I am confident that under Guy McGlashan’s leadership, clients of the combined business will soon experience the substantial benefits of the merger.”

“We are excited to see this combination bring together two highly complementary businesses dedicated to serving their clients’ needs” said Spencer Hoffman, Partner at Lovell Minnick Partners (LMP), a US-based private equity firm. “This union creates a robust platform for growth, enhances market reach, and leverages shared resources to drive long-term success.”

LMP, previously London & Capital’s majority shareholder, supported the transaction through continued investment and will hold a majority shareholding in L&C Waverton. Somers Ltd, the majority shareholder in Waverton since 2013, will continue as a significant shareholder in L&C Waverton, alongside a significant proportion of employee shareholders.

ABOUT LONDON & CAPITAL

Established in 1986, London & Capital is a specialist wealth and asset manager working with private and institutional clients. Headquartered in London, the company has over £6bn in Assets Under Management and 130 employees. It supports its clients in developing financial strategies, investing with a focus on capital preservation and providing clear, concise global reporting.

Many of London & Capital’s private clients are international, with finances, business interests, property, and family across multiple countries and they are recognised as market leaders in advising US connected persons. Its Institutional team specialises in working with insurance companies globally and provides an advice-led service akin to an outsourced CIO. With offices in London, Barcelona and Barbados, London & Capital is one of the few UK-based wealth and asset managers which is UK (FCA), US (SEC) and EU (CNMV) regulated.

ABOUT WAVERTON

Waverton Investment Management Limited (Waverton) is an independent investment management business. Its investment approach is global, direct and active, delivering top decile results. Waverton adopts a global perspective, investing directly into each asset class which are actively managed to ensure stable, long-term returns for clients. In doing so, they leverage the collective skills and experience of the investment team across global markets, embedding Environmental, Social and Governance (ESG) principles to maximise performance across four channels: Private Clients, Financial Advisers, Charities and Institutional Investors.

Headquartered in London, and with offices in Edinburgh and Glasgow, Waverton is a growing firm with approximately £13bn in Assets Under Management (AUM) and 175 employees. The Group includes Waverton Wealth Planning LLP and Waverton Investment Management Ltd, both are authorised and regulated by the Financial Conduct Authority. Waverton Investment Management is also regulated by the SEC.

MEDIA CONTACTS

Stephen Atkinson, Hawthorn Advisors
Email: waverton@hawthornadvisors.co.uk
Contact number: 07801 993 935

Victoria Carroll, Chief Marketing Officer, L&C Waverton
Email: victoria.carroll@londonandcapital.com

To get in contact with London & Capital, please give us a call on +44 (0) 207 396 3388 or click here.

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