Henderson’s acquisition of Gartmore today is yet a further giant stride in what has been remarkable two years for the business.
Prior to its acquisition of New Star back in April 2009, Henderson was better known for its investment trusts and managing life money.
But since that time, with the acquisition of New Star, the group has amassed assets under management (AUM) totalling £61.6 billion, jumping to £78.1 billion after the Gartmore deal, which is set to complete in the next three months.
Overnight, Henderson will go from having the 14th highest retail AUM in Britain to the sixth. (article continues below)
As with the New Star purchase, Henderson has been quick to lock in some of Gartmore’s best talent, although rationalisation will be a certainty in the months ahead.
The deal also marks an end the Gartmore brand, which has seen its ups and downs. The last year has most definitely been the down period, but Henderson will be hoping for a return to the days when the group self-styled itself as “Get More Gartmore”.