Collins Stewart Wealth Management has released its results for 2009 and announced the acquisition of Corazon Capital Group Limited.
CSWM has revealed net inflows for the year of £332m, taking total assets under management and administration to £5.9bn as at 31st December 2009, which represents a strong annualised organic growth rate of 6.8%.
The firm says the acquisition of Corazon, an independent, Guernsey-based investment manager with assets under management of £382m, reinforces CSWM’s intention to grow the business.
The broker, which has offices in the Isle of Man, the Channel Islands and the City of London, has also confirmed its high-profile chairman, Terry Smith, is to step down next month, validating rumours which have been circulating for a few months.
On Wednesday Mr Smith said he would hand the position over to Tim Ingram, the former chief executive of Caledonia Investments, who joined the company’s board in January.
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