Trust Management and Tax Businesses Acquired
Rathbone Brothers PLC
9 December 1999
RATHBONES ACQUIRES TRUST MANAGEMENT
AND TAX BUSINESSES
Rathbone Brothers Plc ('Rathbones'), the investment management
group with over £4.5 billion under discretionary management,
has acquired the businesses of Keith Clayton and Ann Cochrane.
Both have extensive experience in tax planning, tax compliance
and related accounting areas for individuals and trusts.
These acquisitions will be merged into Rathbone Taxation
Services, a significant part of the Trust Division within the
Rathbone Group.
Commenting on the acquisition, Roy Morris, Chief Executive of
Rathbones said, 'The acquisition of these businesses is
consistent with our strategy of expanding Rathbones both by
organic growth and by earnings enhancing acquisitions. I have
known Keith personally for many years and look forward to
working with him in the future.'
Ian Taylor, Head of Rathbone Taxation Services, added 'This is
an excellent development to help grow this part of the Group
and further evidence of our commitment to provide an integrated
service to our client base. We look forward to working with
Keith and Ann in continuing the high quality of service they
have given their clients and extend a warm welcome to them and
their colleagues'.
The consideration for the acquisition is based on the profits
of the businesses for the accounting period to 30 April 1999
and the consideration totals £763,780, to be paid in cash.
Based on the historic and anticipated profits of the businesses
being acquired, the acquisition will be earnings enhancing for
the year ending 31 December 2000.
A total of six staff will be joining Rathbones. Keith Clayton
has been a partner in the business of Robert Legge for several
years. Keith was previously a partner with, amongst others
Deloitte Haskins & Sells and Coopers & Lybrand. He is also a
non-executive director of Liverpool Football Club. Ann
Cochrane has been self employed for the past five years and was
previously a manager with Deloitte Haskins & Sells and Coopers
& Lybrand. Both have extensive experience in tax advice, tax
compliance and trust accounting and administration.
For further information, please contact:
Ian Taylor
Head of Rathbone Taxation Services
Rathbone Unit Trust Management
Tel:0151 236 6666
Tony Rose
Ana Nogales
Tavistock Communications
Tel: 0171 600 2288
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