The latest mergers and acquisitions and other corporate actions in the wealth management sector.

Cazenove Capital 
Cazenove Capital, part of UK-based Schroders Wealth Management, has just completed its purchase of wealth manager, Whitley Asset Management, after receiving regulatory approval. The financial terms are not being disclosed. 

London-based Whitley was founded by conservationist Edward Whitley, following his decision to establish the Whitley Fund for Nature and to manage the sales proceeds of his shareholding in the major brewing business, Greenall Whitley in 1990. He set up Whitley 12 years later (2002) to extend the same portfolio management services to a wider client base of business owners and charities. The firm manages assets of about £1.5 billion ($1.96 billion) on behalf of ultra-high net worth entrepreneurs and charity clients.

Wealth management is a strategic area of growth for Schroders which has seen strong growth since the acquisition of Cazenove Capital in 2013, the firm said in a statement. The acquisition of Whitley reflects the firm's commitment to investing in wealth, and to extending Cazenove Capital’s franchise with UK ultra-high net worth families, business owners and charities.

“After building up Whitley Asset Management for over 20 years, looking ahead to the next 20 years I believe that Cazenove Capital is the ideal home both for our clients and for our team ... Our investment management approach is long-term and inter-generational, and I believe that our clients and our team will feel very at home within Cazenove Capital and that they and their subsequent generations will enjoy the long-term benefits that Cazenove Capital can provide," Edward Whitley, founder and CEO of Whitley Asset Management, said.

Edward Whitley and his portfolio management team will join the Cazenove Capital and Schroders London headquarters, the firm added.