ROYAL Bank of Scotland owner NatWest Group has offloaded part of its Adam & Company private banking operation, including the brand name.
Canaccord Genuity Group has acquired the investment management business of Adam & Co in a cash deal worth £54 million. It comes two months after speculation emerged that NatWest was exploring the sale.
The deal does not include Adam & Co's banking and lending business, which will now be rolled into the Coutts private bank operation.
READ MORE: A Coutts Scotland team will be created and operated across three locations, while the Adam & Co business in London will be integrated into Coutts Coverage, NatWest said. The number of staff affected has not been disclosed.
Scottish wealth manager bought by London firm
A SCOTTISH wealth manager has been acquired by a London-based investment business amid a shake-up in the sector.
Cornerstone Asset Management, which has offices in Glasgow and Edinburgh, has been bought by Waverton Investment Management for an undisclosed sum.
First homes set for huge development
WORK is set to begin on affordable housing at one of Scotland’s largest residential development schemes.
Cruden Homes will start on site this month at Blindwells, where it will deliver 60 new affordable homes on behalf of East Lothian Council, following the latest land sale by developer Hargreaves Land.
Most southern whisky distillery to open doors
BLADNOCH Distillery in the far south-west of Scotland is gearing up to welcome back guests following a year in which its new visitor facility has largely been closed as part of wider restrictions to control the spread of coronavirus.
READ MORE: Speaking after the business announced that it has secured a £10 million loan to boost international growth, master distiller Nick Savage said the operation has hit several important milestones during the various levels of lockdown. Even so, the return of visitors in the coming month is a significant development.
'Relief' as Nicola Sturgeon reopens islands
ISLANDS tourism representatives have hailed the reopening of the key industry in line with mainland Scotland after a month “in limbo” awaiting a restart date.
£6m in project wins for Glasgow fit-out firm
FOUNDATIONS for a successful year are being laid by Glasgow-based construction and fit-out firm Pacific Building which has secured more than £6 million worth of business from 11 new contract wins across the UK, with potential projects worth £5.6m in the pipeline.
Opinion
Scott Wright: What will easing lockdown reveal about Scotland’s towns and cities?
Tracy Black: Skills must top agenda as economy reopens
Mark Williamson: Costs of North Sea tax breaks laid bare
Gillian MacLellan: Firms need clear rules for Covid certificates
Brian Donnelly: Islands ferry failure threatens Sturgeon reopening plan
Features
Monday Interview: Edinburgh recruitment chief on coronavirus year
My Business: Oil and gas engineering specialist eyes renewables
From the Bulletin: Glasgow's biggest outdoor restaurant reveals new line-up
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