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Investment services group Ravenscroft has sold its wealth management business to Titan Wealth, following shareholder and regulatory approval.
The sale includes discretionary, cash management, stockbroking, execution only and precious metals services.
Robin Newbould, the former Managing Director of Operations at Ravenscroft, has been appointed CEO of the business in the Channel Islands and will oversee its integration into Titan Wealth and its international expansion. Whilst Jon Ravenscroft, the former group CEO, will step down and focus on corporate finance, investment, and property management under the Ravenscroft name.
"I am delighted that our shareholders, many of whom are Ravenscroft long-standing clients and employees, voted overwhelmingly in favour of the sale to Titan Wealth," said Mr Ravenscroft. "I am 100% confident that we have found the right partner in Titan Wealth to take forward the wealth management part of Ravenscroft, realise its potential and continue meeting our clients’ investment needs.
"I have worked with Robin for many years, he was alongside me when we established in 2005, and so am delighted that he is becoming CEO. He knows the business inside out and will thrive as Ravenscroft becomes part of the Titan Wealthgroup."
Mr Newbould, may be new to the role but with more than 25 years of experience in offshore finance, emphasised the continued focus on client needs and service delivery.
"Whilst Ravenscroft has seen considerable change over the last 19 years,the focus on our clients, and on providing them with theproducts and services they want, has not," he said. "That focus remains as strong as ever as we become part of Titan Wealth."
"It’s an exciting time to become CEO: I am confident that Ravenscroft will play a significant and strategic role in Titan Wealth’s future expansion plans, and that this will bring benefit to our clients, our team, our shareholders and to the Channel Islands generally."
Pictured top: Robin Newbould.
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