Collins Stewart Wealth Management has released its results for 2009 and announced the acquisition of Corazon Capital Group Limited.
CSWM has revealed net inflows for the year of ?332m, taking total assets under management and administration to ?5.9bn as at 31st December 2009, which represents a strong annualised organic growth rate of 6.8%.
The firm says the acquisition of Corazon, an independent, Guernsey-based investment manager with assets under management of ?382m, reinforces CSWM’s intention to grow the business.
The broker, which has offices in the Isle of Man, the Channel Islands and the City of London, has also confirmed its high-profile chairman, Terry Smith, is to step down next month, validating rumours which have been circulating for a few months.
On Wednesday Mr Smith said he would hand the position over to Tim Ingram, the former chief executive of Caledonia Investments, who joined the company’s board in January.
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