- Rathbone Investment Management, the wholly owned subsidiary of Rathbone Brothers, has acquired the personal injury and Court of Protection business of Barclays Wealth subject to regulatory approvals.

The business comprises approximately £500m of funds under management managed on behalf of approximately 600 clients and their deputies and trustees.

A team of ten will join Rathbones' current specialist team at completion of the acquisition, which is expected in the second quarter of 2020.

Rathbones said the acquisition will be funded from existing capital resources and is consistent with one of the six strategic priorities, 'penetrating specialist markets', it outlined in its strategic update on 17 October 2019.

Chief executive Paul Stockton said: 'The personal injury and Court of Protection sector is an attractive specialist part of the UK wealth management market.

'The Barclays Wealth team are highly experienced and have a strong set of relationships in their sector. We're delighted that they are joining us to complement our existing specialist capability.'

Story provided by