F&C to complete Thames River purchase

F&C Asset Management expects to complete its acquisition of Thames River Capital on or before September 1, after receiving approval by the Financial Services Authority.

The group first announced the transaction on April 28 and F&C shareholders approved it at a general meeting on June 18.

Since Thames River launched in 1998, it has developed a multi-boutique asset management model. Investment teams have a high degree of autonomy and share directly in the profitability and this structure will remain in place. (article continues below)

F&C expects the acquisition of Thames River to be earnings enhancing and, at the same time, accelerate its strategy to diversify beyond core insurance clients into higher growth and specialist areas.

Thames River also distributes its products within the wealth management sector, meaning cross-selling opportunities across the combined group.