Jersey-based investment firm ED Group is entering into a deal with Stenham Wealth Management to create a private wealth management and advice business located on the channel island.
ED Group is set to buy a majority shareholding in Stenham WM, which is headquartered in London, from its departing shareholder Stenhman Asset Management.
The deal between the two firms is due to be completed by March 2019.
“This transaction will enable us to accelerate our ambitious growth plans to build a leading independent investment business in Jersey,” said David Baker, managing director of Stenham WM.
There will be no changes within the Stanham WM team. The company was founded in 2016 after a management buy-out from Credit Suisse’s Jersey investment business.
The newly-formed private partnership will work alongside ED Capital, part of ED Group, focusing on private and institutional clients in relation to real estate.
Jamie Crawford, director of ED Group, said: “We have known David, and the team for several. We share similar values and cultures, with a strong emphasis on client service.
“Their business complements our existing investment activities and adds an important dimension to our financial services offering in Jersey alongside ED Capital.”
The financial terms for the transaction were not disclosed.
