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Rathbones boosts assets with two wealth manager acquisitions

Reuters - UK Focus

LONDON, April 1 (Reuters) - British upmarket wealth manager Rathbone Brothers (LSE: RAT.L - news) has made two acquisitions, spending more than 57 million pounds ($95.03 million)and increasing assets under management by around 12.7 percent.

In a statement on Tuesday, Rathbones said it is acquiring a private client business from fund manager Jupiter for 43.1 million pounds and Tilney Investment Management from Deutsche Bank (Xetra: DBK.DE - news) for 14.3 million pounds.

The Jupiter unit manages assets of 2.1 billion pounds while Tilney has around 700 million pounds under management.

Rathbones also said it has raised 24.4 million pounds in a share placing.

($1 = 0.5998 British Pounds) (Reporting by Chris Vellacott. Editing by Simon Jessop)