Mercator has sold its investment management business, Nova Investment Management Limited (NIML) to Ross Preston, Nova’s existing Managing Director.
“Mercator is very much focusing on its core fiduciary services as independent trust professionals, which is why we have agreed to sell the investment management business,” says Gavin St Pier, Chairman of Mercator. “NIML has been a successful part of Mercator’s business and we are confident that this independence will give both NIML and Mercator the opportunity to develop their respective businesses, whilst continuing to work together where appropriate for clients and benefit from the longstanding relationship they have developed.
“The team has achieved sound results over the past three years since Ross joined NIML, both in terms of investment performance for their clients, and also in substantially growing assets under management locally and internationally. We at Mercator wish them every success going forwards and are confident that NIML will continue to go from strength to strength due to the team’s experience, quality and professionalism.”
Preston too believes that Nova is in an excellent position to build on ity’s success to date. “This is a very exciting time for us,” he says. “We have enjoyed a sustained period of growth through what has been one of the most difficult periods in many years for investments and businesses alike. Although it will be very much business as usual for our clients, we will use our strong foundations and new found independence to further develop and expand our business. We will remain focussed on delivering a personalised and flexible service to old and new clients alike, based upon our investment philosophy of protecting capital and delivering real returns.”