Rathbones

Last updated

Rathbones Group Plc
Company type Public
Industry Finance
Founded1742;282 years ago (1742)
Headquarters London, UK
Key people
Clive Bannister, Chairman
Paul Stockton, CEO
Jennifer Mathias, FD
RevenueIncrease2.svg £435.2 million (2022) [1]
Decrease2.svg £64.1 million (2022) [1]
Decrease2.svg £49.0 million (2022) [1]
AUM £60.2 billion (2022) [1]
Number of employees
1,900 (2022) [2]
Website www.rathbones.com

Rathbones Group Plc is a UK provider of personalised investment management and wealth management services for private investors and trustees. This includes discretionary investment management, unit trusts, tax planning, trust and company management, pension advice and banking services. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Contents

History

The business was founded by William Rathbone II by 1742 as a Liverpool-based timber trading business. [3] In the 19th century it became a leading trader in cotton from the United States and in 1841 it became the Liverpool agent for the East India Company. [3] In 1912 it abandoned its trading operations and focused on financial management, [3] initially for the Rathbone family, but subsequently for the general public. In 1988 it merged with Comprehensive Financial Services Ltd to form Rathbone Brothers plc [3] and thereby secured a listing on the London Stock Exchange. [4] It changed its name from Rathbone Brothers to Rathbones Group on 1 December 2021. [5]

In April 2023, Rathbones agreed to buy Investec's wealth and investment businesses in the UK and Channel Islands for £839 million. The deal excludes Investec Bank (Switzerland) and Investec International wealth business. [6]

Operations

The company provides investment management, financial planning, tax and trust services. [7] It has 14 offices located all over the UK and Jersey. [8]

The current CEO is Paul Stockton, who was appointed to the position in May 2019. [9] [10] He had previously worked at the company from 2008, as group financial and managing director. [10]

Responsible business

Previous logo Rathbone logo.svg
Previous logo

The Rathbones Group Foundation is the charitable arm of the group, supporting charities that pay particular attention to at risk and vulnerable youths. [11]

Related Research Articles

A dual-listed company or DLC is a corporate structure in which two corporations function as a single operating business through a legal equalization agreement, but retain separate legal identities and stock exchange listings. Virtually all DLCs are cross-border, and have tax and other advantages for the corporations and their stockholders.

<span class="mw-page-title-main">Hambros Bank</span>

Hambros Bank was a British bank based in London. The Hambros bank was a specialist in Anglo-Scandinavian business with expertise in trade finance and investment banking, and was the sole banker to the Scandinavian kingdoms for many years. The bank was sold in 1998, and today survives only in the name of the private banking division of the French group Société Générale.

Old Mutual Limited is a pan-African investment, savings, insurance, and banking group. It is listed on the Johannesburg Stock Exchange, the Zimbabwe Stock Exchange, the Namibian Stock Exchange and the Botswana Stock Exchange. It was founded in South Africa by John Fairbairn in 1845 and was demutualised and listed on the London Stock Exchange and other stock exchanges in 1999. It introduced a new strategy, called 'managed separation', that entailed the separation of its four businesses – Old Mutual Emerging Markets, Nedbank, UK-based Old Mutual Wealth and Boston-based Old Mutual Asset Management (OMAM) – into standalone entities in 2018. This led to the demerger of Quilter plc and the unbundling of its shareholding in Nedbank. The business, which is now largely based in South Africa, provides sponsorship and supports bursaries at South African universities.

<span class="mw-page-title-main">Arbuthnot Latham</span> Private and merchant bank in London, England

Arbuthnot Latham & Co. Limited, trading as Arbuthnot Latham, is a British private and merchant bank headquartered in London, England. Founded in 1833, it has the status of one of the 12 accepting houses.

Brown Shipley is a member of Quintet Private Bank. It is headquartered in London's Moorgate, behind the Bank of England. Brown Shipley offers wealth planning, investment management and lending services for private, corporate and institutional clients. Effective January 2022, the CEO is Calum Brewster.

<span class="mw-page-title-main">M&G</span> British fund management company

M&G plc is a global investment manager headquartered in the City of London. Since its de-merger from Prudential plc, it has been listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

<span class="mw-page-title-main">LGT Group</span> Private banking and asset management group based in Liechtenstein

LGT Group is the largest royal family-owned private banking and asset management group in the world. LGT, originally known as The Liechtenstein Global Trust, is owned by the princely House of Liechtenstein through the Prince of Liechtenstein Foundation and led by its royal family members H.S.H. Prince Maximilian von und zu Liechtenstein (CEO) and H.S.H. Prince Philipp von und zu Liechtenstein (chairman).

Investec is an Anglo-South African international banking and wealth management group. It provides a range of financial products and services to a client base in Europe, Southern Africa, and Asia-Pacific.

<span class="mw-page-title-main">Family office</span> Family controlled investment group

A family office is a privately held company that handles investment management and wealth management for a wealthy family, generally one with at least $50–100 million in investable assets, with the goal being to effectively grow and transfer wealth across generations. The company's financial capital is the family's own wealth.

Hargreaves Lansdown plc is a British financial services company based in Bristol, England. It sells funds and shares and related products to retail investors in the United Kingdom. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

<span class="mw-page-title-main">St. James's Place plc</span> British wealth management company

St. James's Place plc, formerly St. James's Place Capital plc, is a British financial advice company. The head office is in Cirencester, in Gloucestershire, and there are over twenty other offices in the United Kingdom. It is a combined adviser, fund manager and life insurance business. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. It is the largest company of its kind in the UK; In 2023 it had £153.62 billion in funds under management.

Sanlam is a South African financial services group headquartered in Bellville, Western Cape, South Africa. Sanlam is the largest insurance company in Africa. It is listed on the Johannesburg Stock Exchange, the Namibian Stock Exchange and the A2X. Established in 1918 as a life insurance company, Sanlam Group has developed into a diversified financial services business. Its five business clusters comprise Sanlam Personal Finance, Sanlam Emerging Markets, Sanlam Investments, Sanlam Corporate and Santam.

RBC Brewin Dolphin is one of the largest British wealth management firms with over 30 offices throughout the UK, Jersey and Ireland, and c. 2,000 employees. It provides investment management and financial planning services to individuals, companies, intermediaries and charities.

<span class="mw-page-title-main">ICG Enterprise Trust</span> British investment company

ICG Enterprise Trust plc is a large investment company. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. In particular it is one of the largest investment trusts on the stock exchange with a market capitalisation of £820 million as at 27 November 2023.

JPMorgan Chase is an American multinational banking corporation with a large presence in the United Kingdom. The corporation's European subsidiaries J.P. Morgan Europe Limited, J.P. Morgan International Bank Limited and J.P. Morgan Securities plc are headquartered in London.

<span class="mw-page-title-main">Clive Bannister</span>

Clive Bannister is the chair of the Museum of London, chair of Rathbones and chair of Beazley. He was formerly an insurance executive and banker.

<span class="mw-page-title-main">JTC plc</span> Fund manager

JTC plc is a provider of fund administration services. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

<span class="mw-page-title-main">Abrdn</span> UK based investment company

Abrdn plc, formerly Standard Life Aberdeen plc, is a United Kingdom-based global investment company headquartered in Edinburgh, Scotland. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

<span class="mw-page-title-main">Evelyn Partners</span> Financial and professional services company

Evelyn Partners is a financial services and professional services company based in the United Kingdom. It is formerly known as Tilney Smith & Williamson, which was the result of a 2020 merger between Tilney and Smith & Williamson. The group also operates the online investment service Bestinvest.

References

  1. 1 2 3 4 "Preliminary Results 2022". Rathbones Group Plc. Retrieved 1 March 2023.
  2. "Rathbone Brothers". Craft. Retrieved 15 July 2022.
  3. 1 2 3 4 University of Liverpool: Collections Archived 2011-07-27 at the Wayback Machine
  4. "Rathbones: Share History".
  5. "Change of name for Rathbone Brothers". Financial Planning Today. 1 December 2021. Retrieved 17 February 2022.
  6. "Rathbones agrees wealth deal with Investec to create £100bn business". Financial Times. 4 April 2023. Retrieved 19 April 2023.
  7. "About us". Rathbones. 27 May 2015. Retrieved 23 April 2017.
  8. "Our offices". Rathbones. 2 June 2015. Retrieved 3 October 2022.
  9. "Paul Robert Stockton, Rathbone Group PLC: Profile and Biography". Bloomberg.com. Retrieved 27 August 2020.
  10. 1 2 "Our people". Rathbones. 5 August 2015. Retrieved 27 August 2020.
  11. "Community". Rathbones. 3 October 2022. Retrieved 3 October 2022.

Further reading