Deloitte has offloaded its investment and pension consulting (IPC) service to a merchant bank for an undisclosed sum, IPE reports. LJ Group, an independent merchant banking boutique, has backed the management buyout (MBO) of Deloitte’s business, serving wealthy clients. The move has led to the creation of a new business, LJ Athene Investment Advisors, which will be owned by the IPC management team led by CIO, Neil Beaten, and the LJ Group. The new business will continue to serve high-net worth and ultra-high-net worth clients as well as offer investment, advisory and pensions advice, adds Financial News.
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