ABN Amro, Artemis in UK Merger

June 11, 2002 (PLANSPONSOR.com) - Dutch bank ABN Amro Holding NV said Tuesday that it will merge its UK fund management business, ABN Amro Fund Managers Limited, with UK asset management company Artemis Investment Management Limited.

ABN Amro, which is slated to take a 58% stake in the combined company, wouldn’t disclose financial details of the deal. The combined company will operate under the Artemis name.

ABN Amro has been at the center of speculation over a possible purchase or partnership in the UK with an asset management company after two of its top fund managers left.

Artemis Chief Executive Mark Tyndall will be head of the merged company, which will operate Edinburgh and London offices.

Artemis’ fund management team will assume investment management responsibility for the combined product lineup, ABN Amro said. ABN Amro said the enlarged company would include its sales and marketing team.