Acquisition of Lloyds Bank International’s Channel Islands wealth management and funds business

We are pleased to announce that on 24 June 2020, we have acquired the Channel Islands wealth management and funds business of Lloyds Bank International Limited (subject to regulatory approval).  

Caroline Connellan CEO, Brooks Macdonald said: “The acquisition of Lloyds’ offshore wealth and funds business adds to the transformation of our International business, bringing greater scale, new capabilities and expanded distribution reach.  As well as the good strategic fit, our discussions with Lloyds Bank International have shown we have similar cultures with a shared strong focus on clients and intermediaries.  This acquisition, the second for Brooks Macdonald in this financial year, is a further step forward in achieving our growth ambitions, complementing our organic strategy, creating value for shareholders and bringing benefits for clients and intermediaries.”

Andrew Shepherd CEO, Brooks Macdonald International also commented: “We are delighted to have agreed this acquisition which represents a major move forward for the International business. I am particularly pleased that the strong relationship we have built with the Lloyds Bank International management team means that we are putting in place a partnership agreement for cross-referral of clients with a shared commitment to explore other ways for the businesses to co-operate.”

For full details of the announcement, click here.