Interactive Investor completes TD Direct deal

Interactive Investor has completed its acquisition of TD Direct creating the UK’s second largest online broker with £21bn in assets under administration.

The deal was first announced in October and has now completed following regulatory approval from the FCA, the European Central Bank and the Luxembourg regulator.

The combined group has over 300,000 customers and will move to a single investing platform under the Interactive Investor name later this year.

Interactive Investor says there will be further investment in market research and analysis tools for clients.

The board will be chaired by Hugo Van Vredenburch, with Richard Wilson as chief executive and Barry Bicknell as chief financial officer.

Wilson says: “We know that investors want great information and fair pricing to be able to make informed decisions, and our enlarged business will offer just that.

“The integration of our combined capabilities will create a significant and exciting market leader, serving our customers’ needs across platform, price and proposition.”