Summary
THE Newcastle-based corporate broking arm of wealth management firm Brewin Dolphin is to be sold to its senior staff and Spanish financial firm N+1. The new venture, which is called N+1 Brewin, will be headquartered in Newcastle and staffed by 55 members of Brewin's corporate advisory and broking division, including 25 in Newcastle.
London-based Brewin Dolphin, which currently employs around 300 people in Newcastle, says the sale will allow it to focus on its core business of wealth management, which accounts for 95% of annual revenues of pounds 250m.See the full content of this document
Extract
Brewin Dolphin to Sell Corporate Broking Arm
Brewin Dolphin receives pounds 1m in cash from the deal, plus a 14% stake in N+1 Brewin with an estimated valu...
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