San Diego Skyline
Image Source: Vanessa Vancour
Kingswood Holdings today revealed its plans for Kingswood US, which comes off the back of significant acquisitions in the country.
Chloe Shakesby

London wealth management firm plans US expansion following overseas acquisitions

A London wealth management business has announced its plans to create a new branch in the US.

Kingswood Holdings today revealed its plans for Kingswood US, which comes off the back of significant acquisitions in the country.

It confirmed today that it now fully owns San Diego company Chalice, having acquired the firm for a total of £3.2m.

The company is also in talks to increase its shares in Manhattan Harbor Capital (MHC) from 7 per cent to a majority share of 20 per cent.

On completion, Kingswood will formalise a new branch, Kingswood US, to expand the company’s footprint in America.

Gary Wilder, group CEO at Kingswood, commented: “The heads of terms to acquire a majority interest in MHC at an attractive discount relative to market reflects the desire of both parties to develop a highly accretive global platform providing clients access to investment product and services in major US and UK markets.

“Kingswood’s enhanced investment in MHC will cement a key, strategic foothold in the largest global wealth and investment management market, differentiate us from our peers and support our aspirations of asset linking and cross-selling services.

“The investment will provide a significant base to potential further integration and a valuable support to Kingswood’s US expansion plans.

“This puts us in a strong position to execute our robust US acquisition pipeline and Mike [MHC leader] and his team will oversee acquired entities and focus on delivering Kingswood’s full service brokerage and banking proposition to clients.

“The partnership also helps MHC achieve its goal of formalising a strategic allegiance with the Kingswood listed entity that brings a number of benefits including boosting AUM and accelerating adviser recruitment and a significant foothold in the largest wealth management market globally, providing the springboard and best in class infrastructure to exponentially grow the business.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →

Our Partners

Top Ten Most Read