Quilter and Cheviot to merge

The transaction, funded by Quilter's European private equity firm owner, Bridgepoint, is subject to regulatory approval but likely to complete at the end of the year. Terms of the deal were not disclosed. The combined business will have total assets under management of more than £12bn (Quilter's £8.2bn and Cheviot's £4.1bn), most of which are discretionary portfolios run on behalf of private clients, charities and trusts, pension funds, corporate bodies and life companies. Quilter has 385 staff based in 13 locations in the UK, Jersey and Ireland. Cheviot has 139 partners and other ...