Cazenove Capital, part of Schroders Wealth Management, has completed the acquisition of wealth manager Whitley Asset Management for an undisclosed sum.

The acquisition of the London-based firm has now received regulatory approval.

Whitley Asset Management manages approximately £1.5bn of assets on behalf of ultra-high net worth entrepreneurs and charity clients, as at the end of September 2024.

It was founded by conservationist Edward Whitley in 2022 to provide portfolio management services to business owners and charities.

Whitley and his portfolio management team will join the Cazenove Capital and Schroders office in London.

Schroders stated that its wealth management business was a strategic area of growth, which has seen “particularly strong growth” since it acquired Cazenove Capital in 2013.

The acquisition of Whitley Asset Management signalled Schroders’ “continued commitment” to investing in wealth and to extending Cazenove Capital’s franchise with UK ultra-high net worth families, entrepreneurs and charities.

It added that the alignment of culture between Whitley Asset Management and Schroders Wealth Management was a fundamental factor in its decision to make the acquisition.

Whitley’s clients will gain access to the broader range of services offered by Cazenove Capital, including financial planning, banking, philanthropy, and private and impact investments.

Commenting on the deal, Schroders Wealth Management chief executive, Mary-Anne Daly, said: “We are delighted that Edward Whitley has chosen Cazenove Capital as the future home for his business and clients and are looking forward to welcoming him and his team to 1 London Wall Place.

“We have a deep understanding of the requirements of multi-generational families, business owners and charities. Our shared culture of service excellence, the depth of Schroder’s investment expertise and our continuous investment in people and technology will sustain our presence by the side of these clients for generations to come.”

Whitley Asset Management founder and CEO, Edward Whitley, “After building up Whitley Asset Management for over 20 years, looking ahead to the next 20 years I believe that Cazenove Capital is the ideal home both for our clients and for our team. I feel very proud to have built a business which Cazenove Capital wishes to take on.

“As one of the leading and in our view the most respected wealth manager in the UK, Cazenove Capital was really the only choice for us. Combining excellent client service with impressive investment performance, Cazenove Capital shares the same ethos as us – and they also benefit from the depth and global breadth of Schroders.

“Our investment management approach is long-term and inter-generational, and I believe that our clients and our team will feel very at home within Cazenove Capital and that they and their subsequent generations will enjoy the long-term benefits that Cazenove Capital can provide.”

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