Wealth-X has acquired Ledbury Research, a London-based wealth market research and advisory firm.
The acquisition bolsters Wealth-X's position as the global authority in wealth intelligence, providing sales, marketing, strategy and compliance solutions to clients in the financial services, luxury, not-for-profit and education sectors.
With the acquisition, Wealth-X will employ more than 250 professionals across offices in 13 cities, including London, Singapore and New York.
Wealth-X CEO Mykolas Rambus says: "Combining Ledbury's extraordinary market research with Wealth-X's proprietary data places us in an unrivalled position to address our clients' most strategic needs. This acquisition demonstrates our commitment to expanding in Europe, the Middle East and Africa, while concurrently bringing increased value to our clients globally."
Marc Cohen, co-founder of Ledbury Research, says: "We are extremely excited to join Wealth-X and align ourselves with the company that has defined the ultra-affluent category. Our clients will only benefit from their wealth big data capabilities, best practices, and global reach."
For Wealth-X, the acquisition, along with the 25,000 high net worth (HNW) individuals Ledbury Research interviews annually, marks the expansion of its capabilities into the HNW segment, comprised of nearly 13 million individuals globally.
Ledbury Research will assume Wealth-X branding whilst continuing to operate from its premises in London's Mayfair district. Marc Cohen will take up a senior leadership position and report to Wealth-X CEO Mykolas Rambus. Ledbury Research's professional staff will continue to report to Torie Bold, director at Ledbury Research, and Stuart Rutherford, its research director.