Evolution Group is acquiring the U.K. private investment management unit of BNP Paribas Wealth Management, Financial Times reports. The £25 million purchase will be made by Evolution’s wholly owned unit Williams de Broë.
The private client wealth management firm will pay £5 million along with the £19.9 million value of the net assets of BNP Paribas Private Investment Management. The transaction will increase Williams’ assets under management by £1.8 billion to £7.8 billion.
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