(February 9, 2012, Weil News)
Weil, Gotshal & Manges is advising the management of Quilter & Co. Ltd. in connection with its acquisition by Bridgepoint from Morgan Stanley Smith Barney. The terms of the transaction, which is expected to close at the end of the first quarter 2012 subject to FSA and other regulatory clearances, have not been disclosed.
Quilter is a specialist private client wealth management business with approximately £7.6 billion of funds under management. Clients include high net worth individuals, charities and trusts, pension funds, corporate bodies, and friendly socieities. The business employs approximately 350 staff based in 13 locations throughout the UK, Jersey and Ireland. This transaction will enable Quilter to grow organically and to make bolt-on acquisitions and comes at a time when interest in private client wealth management services is growing in the UK.
Corporate partner Mark Soundy is leading the Weil team, assisted by associate Elizabeth Todd. Partner Sarah Priestley and associate Oliver Walker are advising on tax structuring, and of Counsel Ivor Gwilliams is advising on the employment aspects of the deal.
Linklaters is advising Bridgepoint and Clifford Chance is advising Morgan Stanley Smith Barney.