Titan Wealth Holdings has bought the Blacktower Group for an undisclosed sum.
The deal will add £2.2bn in assets under management to the Titan Wealth Management Group.
Blacktower will be merged into Titan Wealth International, creating a combined entity.
John Westwood, group chairman of Blacktower Financial Management, said: “Titan Wealth’s acquisition of the Blacktower Group represents a defining moment for international wealth management.
“This announcement will create a global business with the reach, strength and technical capability to deliver the highest possible standards of cross-border financial advice. Together, we are setting a new benchmark for the industry.”
The combined group will provide a broad licensing footprint, enhanced discretionary and investment management services, and expanded client support infrastructure.
Dan Dickinson, chief executive officer of Titan Wealth International, added: “This significantly increases our ability to support and advise our clients across multiple jurisdictions due to Blacktower’s regulatory coverage.”
Titan Wealth is owned by a trio of private equity firms, Parthenon Capital Partners, Hambleden Capital and Ares Management.
alina.khan@ft.com
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