Sanlam UK is to acquire Thesis Asset Management in a deal that will bring the firm’s private client discretionary assets under management (AuM) to £4.2 billion (€4.9 billion).
With a presence in the south of England, Thesis AM has £1.2 billion in AuM and a team of 30 investment professionals and supporting staff.
Sanlam UK will take on Thesis AM’s private client business, distribution network, direct support teams and its financial planning business Pallant.
According to Sanlam UK’s chief executive Jonathan Polin, Thesis is a high quality business and an “important strategic fit” for Sanlam in the UK.
Polin stated that Sanlam has “high ambitions” to become a “leader in client-centric wealth management”. He called the acquisition of Thesis “an important milestone” toward realising this objective.
The amount Sanlam UK has paid for Thesis remained undisclosed at the time of writing.
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