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  1. Wealth
October 20, 2011

Williams de Broë buys BNP Paribas UK WM

By Spear's

Williams de Broë has completed the acquisition of BNP Paribas’ UK wealth business

Williams de Broë has completed the acquisition of BNP Paribas’ UK wealth business.

The deal for the arm, BNP Paribas Private Investment Management (BPIM), was announced on 8 August and has been approved by The Financial Services Authority. The deal will see BIPM take the Williams de Broë name.

The firm’s interest in BPIM was originally unveiled shortly before its parent, Evolution, became embroiled in a bid battle with Investec and Canaccord vying for control of the business.

Evolution eventually plumped for the Investec offer, which was worth around £220 million.

To read the full story, visit citywire.co.uk

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