Brooks Macdonald to acquire Spearpoint for £34 million

Channel Islands investment management boutique Spearpoint is to be acquired by Brooks Macdonald Group plc, an AIM listed wealth management group, for approximately £34m.

Spearpoint was established in 2007 by Jon Davey and has grown to 54 staff across Jersey and Guernsey. It offers fund management, retirement services, and execution only stock-broking.

Spearpoint has assets under management of approximately £1.1bn and the new combined group will have funds under management of approximately £4.5bn.

As Brooks Macdonald had no Channel Islands presence prior to the acquisition, and as the plan is to expand the business, it is believed that all of the existing staff will keep their jobs.  It is also understood that the key senior executives will all remain with the business.