Financial services group Walker Crips Group plc is to buy London-based wealth manager Barker Poland Asset Management LLP (BPAM) for a total of just over GBP4 million. BPAM has some GBP229 million under management, of which GBP192 million is managed on a discretionary basis.
Walker Crips is also taking on a team of five advisers from BPAM, including the managing director Geoff Wright, and the founder of the business, Pat Barker, who continues as Chairman of the firm.
Walker Crips is on a mission to add scale to its business, with a medium term target of having GBP5 billion in assets under management. Following the acquisition of BPAM, Walker Crips’ assets under management will increase by 12.6% to GBP2 billion and assets under management and administration will increase to GBP3.5 billion.