Business
Arbuthnot Latham new agreemen
Arbuthnot Latham new agreemen.
About this update from Arbuthnot Banking Group Plc
[{"type":"text","content":"\n RNS Number : 7523V Arbuthnot Banking Group PLC 02 June 2008 \nARBUTHNOT BANKING GROUP PLC\n\nARBUTHNOT LATHAM ENTERS INTO AGREEMENT WITH JARDINE LLOYD THOMPSON\n\n\nArbuthnot Banking Group's private banking business, Arbuthnot Latham & Co., Limited, today has announced that it has entered into an agreement with Premier Pension Services, a division of JLT Benefit Solutions Limited. \n\nUnder the terms of the agreement Premier Pension Services will acquire Arbuthnot Latham's pension administration business, Arbuthnot Trustees. The portfolio consists of SIPP (self invested personal pension) and SSAS (small self administered scheme) Arbuthnot clients. Arbuthnot Latham will continue to provide banking and investment management services to these clients, with plans to promote these services to other Premier Pension Services clients as well. \n\nThis transaction will have a positive impact on future profitability at Arbuthnot Latham. \n\nCommenting on the deal, Mike Bussey, CEO of Arbuthnot Latham, said:\n'We are delighted to be entering into this agreement with Premier Pension Services. Their level of client service made them the obvious candidate with whom we could do a deal of this sort and the Premier Pension Services and Arbuthnot Latham cultures are a good fit. This deal presents both companies with a number of opportunities and we look forward to working with Premier Pension Services.'\n\nNigel Manley, Head of Self Invested Pensions, Premier Pension Services says, 'We will be meeting supporting advisers and key clients as soon as possible to explain the rationale for the business transfer and outline the strengths that Premier Pension Services can bring to the portfolio. However, this is a lot more than the normal business transfer transaction. We are looking to work long term with Arbuthnot Latham on various products and services where our combined expertise and markets will complement each other.'\n\nENDS\n\nEnquiries:\n\n\n\n\n\nArbuthnot Banking Group\n\n\nTel. No.: 020 7012 2400\n\n\n\n\nHenry Angest, Chairman & Chief Executive\nAndrew Salmon, Chief Operating Officer\n\n\n\n\n\nArbuthnot L...