Cazenove Capital, part of Schroders Wealth Management, is today announcing that it has completed the acquisition of wealth manager, Whitley Asset Management (Whitley). This acquisition has received regulatory approval.
London-based Whitley was founded by conservationist Edward Whitley OBE following his decision to establish the Whitley Fund for Nature and to manage the sales proceeds of his shareholding in major brewing business, Greenall Whitley in 1990. He set up Whitley 12 years later (2002) to extend the same portfolio management services to a wider client base of business owners and charities. Today the firm manages assets of circa £1.5 billion on behalf of ultra-high-net worth entrepreneurs and charity clients (as at 30 September 2024).
Wealth Management is a strategic area of growth for Schroders plc which has seen particularly strong growth since the acquisition of Cazenove Capital in 2013. The acquisition of Whitley announced today signals our continued commitment to investing in Wealth, and to extending Cazenove Capital’s leading franchise with UK ultra-high-net-worth families, successful business owners and charities.
The alignment of Whitley’s cultures with ours is a fundamental factor behind this decision to join forces. Our businesses share the same commitment to client-centricity and investment excellence. Whitley’s clients will be able to benefit from the broader range of services offered at Cazenove Capital, including financial planning, banking, philanthropy and access to private and impact investments.
Mary-Anne Daly, Schroder’s Wealth Management Chief Executive commented
“We are delighted that Edward Whitley has chosen Cazenove Capital as the future home for his business and clients and are looking forward to welcoming him and his team to 1 London Wall Place.
We have a deep understanding of the requirements of multi-generational families, business owners and charities. Our shared culture of service excellence, the depth of Schroder’s investment expertise and our continuous investment in people and technology will sustain our presence by the side of these clients for generations to come.”
Edward Whitley, Founder and CEO of Whitley Asset Management, commented:
“After building up Whitley Asset Management for over 20 years, looking ahead to the next 20 years I believe that Cazenove Capital is the ideal home both for our clients and for our team. I feel very proud to have built a business which Cazenove Capital wishes to take on. As one of the leading and in our view the most respected wealth manager in the UK, Cazenove Capital was really the only choice for us. Combining excellent client service with impressive investment performance, Cazenove Capital shares the same ethos as us – and they also benefit from the depth and global breadth of Schroders. Our investment management approach is long-term and inter-generational, and I believe that our clients and our team will feel very at home within Cazenove Capital and that they and their subsequent generations will enjoy the long-term benefits that Cazenove Capital can provide.”
Edward Whitley and his portfolio management team will join the Cazenove Capital and Schroders HQ at 1 London Wall Place, London EC2Y.
The financial terms of this transaction are not being disclosed. Please see images of Edward Whitley and Mary-Anne Daly below.
Top 40 Managers by Assets Under Management No5 ranking; note 3 of the 4 institutions ranked 1-4 operate primarily in the High-Net-Worth and/or affluent segments (www.pamonline.com)
