Oberon Capital, a listed wealth and asset management business, has agreed to acquire the wealth management division of WH Ireland, which has assets under administration of £850mn.
Oberon is paying £1mn for the business, with no contingencies or future earnouts.
The deal, which is based on approval by WH Ireland’s shareholders, will see staff and two offices, in Poole and Manchester, transfer to Oberon.
Oberon Capital is funding the purchase via the proceeds of convertible loan notes it issued, which raised £3mn from investors at an interest rate of 12 per cent.
Oberon has been expanding in both wealth and asset management in recent years.
In November 2024, it hired Richard Penny, a former fund manager at Legal and General and Curx, to run UK equity funds.
Simon McGivern, the founder and chief executive of the business said: “This agreement marks a positive and natural development for Oberon.
“We have built a strong and sustainable base as a full-service boutique, and welcoming WH Ireland’s clients and client teams to our business and culture further strengthens that foundation.
“Clients can be reassured that they will continue working with the same trusted advisers, now supported by the broader resources and infrastructure of the Oberon Group.”
Michael Bishop, the UBS veteran who joined WH Ireland as head of wealth management in 2022, left two years later and became managing director of rival firm Hawksmoor in 2025.
david.thorpe@ft.com
