Dundas & Wilson has acted for Standard Life Wealth (“SLW”), a subsidiary of Standard Life plc, on its decision to acquire Newton Management Limited, a global investment management subsidiary of The Bank of New York Mellon Company. SLW has entered into an agreement with Newton Management Limited to buy its private client division with assets under management of £3.6bn.

SLW is one of the UK’s fastest growing discretionary fund management businesses, and this transaction is expected to more than triple SLW’s discretionary assets, creating a private client wealth manager in the UK with increased profitability, significant scale and market presence. The transaction is expected to complete within 7 months subject to completion conditions being satisfied, including receipt of applicable regulatory approvals.

As lead UK counsel, Dundas & Wilson provided corporate, regulatory, employment, pensions and tax advice to SLW.

Lead Partner and Head of Corporate, Wendy Colquhoun commented “We are delighted to have worked alongside the Standard Life team in delivering this agreement in pursuance of Standard Life’s ambitions. Using our extensive experience in the financial services sector, our team will continue to provide practical legal solutions to assist Standard Life in achieving a successful completion and integration process.”

http://www.dundas-wilson.com/news/press_releases/dw_cms_9531.asp