Administration March 4, 2003

Amvescap Acquires Pell Rudman

April 27, 2001 (PLANSPONSOR.com) - In line with its continuous effort to expand its private wealth management business, Amvescap has purchased Pell Rudman & Co from Old Mutual for an initial cash payment of $172 million and up to $28 million in potential asset retention payments over two years.
Reported by

The acquisition of Pell Rudman, which manages $8 billion in assets belonging to over 550 wealthy clients, is set to close in September, subject to regulatory approval.

Buying Spree

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The Pell Rudman purchase is the latest in Amvescap’s buying spree that includes:

  • its purchase of Canada’s Trimark Financial for £1.2 billion last year
  • the acquisition of Britain’s Perpetual PLC in a £1.0 billion takeover the same year
  • its acquisition of National Asset Management in April, and
  • its plans to purchase County Asset Management, an Australian institutional fund.

For more on Amvescap’s acquisitions see:

Amvescap Picks Up UK Fund Manager

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