Microgen Financial Services and Touchstone Wealth Management merge
Microgen Financial Services and Touchstone Wealth Management have agreed to merge in a deal which both hope will create a leading firm in the trust and corporate services sector.
The name of the new company is yet to be announced
The merger is supported by Silverfleet Capital, a leading pan-European private equity firm. Touchstone Wealth Management will be carved out of the Touchstone Group, which will become a minority shareholder in the new company.
As part of the merger, Keith Hale is joining as executive chairman to run the combined group. Hale will work with both management teams on the combined strategy, oversee integration as well as drive business development.
Hale is the former CEO of Multifonds, a software provider in the fund administration sector. The name of the new entity will be decided and announced soon.
“I am delighted about the latest development in the evolution of Microgen and would like to thank our investors at Silverfleet for supporting us in growing the business,” says Robert Browning, CEO of Microgen.
“I look forward to the merger with Touchstone and combining with their technology expertise to drive our shared future ambition.”
Peter Le Brocq, managing director of Touchstone Wealth Management, adds: “I am thrilled about the prospects of the merger as it will give us the necessary scale needed to better service our clients. Together, we will have the structure and processes to drive immense innovation for our clients globally.”
The merger is subject to competition authority clearance, which is expected to take between three and five weeks.
Read more: SoftBank confirms Yahoo Japan and Line Corp merger
