This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Newton Announces Sale Of Its Private Client Business To Standard Life Wealth

LONDON, Feb. 27, 2013 /PRNewswire/ -- Newton Management Limited, together with Newton Investment Management Limited, a global thematic investment boutique of BNY Mellon, announced today that they will be selling Newton's private client business to Standard Life Wealth. The transaction is subject to regulatory approval, and is expected to close in the third quarter, 2013.

The agreement covers 7% of Newton's assets under management valued at £3.6bn and approximately 3,000 private clients.

The decision follows a thorough strategic and operational review of Newton's business. 

Speaking about the transaction, Helena Morrissey, chief executive officer at Newton said:  "The decision to sell the private client business was made after much thought and with the long-term future interests of all clients and staff at the forefront of considerations. Newton's overall business has evolved over the past several years to the point where private clients now make up just a small portion of our total assets under management. We believe that the interests of private client investors, including the delivery of the highest standards of client service will be better served in future by a business where this area is a core element of the overall company strategy.

We are confident that Standard Life Wealth will offer our private clients and associated staff the best opportunity for on-going success in future, through its commitment to the wealth management business. Newton in turn will now be focused more clearly on our core business of institutional and charity investment management, as well as fund solutions for the wholesale and retail sectors."

Newton's business is now focused on managing £28.9bn of institutional assets, £15.7bn of assets for pooled investment funds and £4.3bn of charity assets. Additionally, Newton will continue to offer solutions to retail investors, by acting as an investment manager to BNY Mellon operated funds that are available to other wealth managers. 

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs