Curtis Banks Group PLC Completion of Suffolk Life acquisition (2788Z)
May 25 2016 - 5:30AM
UK Regulatory
TIDMCBP
RNS Number : 2788Z
Curtis Banks Group PLC
25 May 2016
25 May 2016
Curtis Banks Group plc
("Curtis Banks", the "Company" or the "Group")
Completion of Suffolk Life acquisition
Curtis Banks Group plc, one of the UK's leading SIPP providers
is pleased to announce that, following the approval of Change of
Control from the Financial Conduct Authority and the Prudential
Regulation Authority, it has completed its acquisition of Suffolk
Life Group Limited and its subsidiaries (together being "Suffolk
Life") from Legal & General Retail Investments (Holdings)
Limited.
The combined Curtis Banks and Suffolk Life Group now administers
approximately 68,000 pension schemes with assets under
administration of approximately GBP18bn. The Group employs over 500
staff in its offices in Bristol, Ipswich, Dundee and Market
Harborough. The acquisition makes Curtis Banks the second largest
dedicated independent SIPP provider in the UK, having achieved
significant growth organically and through acquisition since it
commenced trading in 2009.
Chris Banks, Chairman of Curtis Banks, commented:
"I am delighted that the acquisition of Suffolk Life has now
completed. This is a very significant acquisition for the Group. My
colleagues and I look forward to working with the skilled
management team already in place at Suffolk Life in order to
develop the potential of the combined Group for the benefit of
clients, advisers, staff and shareholders."
"We are very pleased that Legal & General has chosen Curtis
Banks to take ownership of this business and believe this reflects
our strong standing and market reputation."
Will Self, Managing Director of Suffolk Life, added:
"Joining the Curtis Banks Group, with its strong focus on the
advised retirement market will help Suffolk Life realise its strong
potential. Over time the expected improvements will not only
benefit advisers and their clients but will play an important role
supporting the longer term ambitions of the Group."
For more information:
Curtis Banks Group plc www.curtisbanks.co.uk
Rupert Curtis - Chief Executive Officer Via Walbrook PR
Paul Tarran - Finance Director
Suffolk Life Group Ltd +44 (0) 1473 296 793
Will Self - Managing Director
Gregory Kingston - Head of Marketing
& Product
Peel Hunt LLP (Nominated Adviser &
Broker) +44 (0) 20 7418 8900
Guy Wiehahn / Rishi Shah
Walbrook PR +44 (0) 20 7933 8780
Tom Cooper / Paul Vann +44 (0) 797 122 1972
tom.cooper@walbrookpr.com
Notes to Editors:
Curtis Banks administers Self-Invested Pension products,
principally SIPPs and SSASs. The Group commenced trading in 2009
and has successfully developed, through a combination of organic
growth and acquisitions, into one of the largest UK providers of
these products. The Group employs approximately 500 staff in its
head office in Bristol and regional offices in Ipswich, Dundee and
Market Harborough.
For more information - www.curtisbanks.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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