SG Hiscock & Company has merged with DMP Asset management to form a single business that will retain a clear focus on two pillars of business.
The merger, to be finalised by the end of the month brings together the two companies but each will retain their separate licenses to ensure a clear focus on the two pillars of business within the entity.
SG Hiscock will look at institutional mandates and retail unit trusts while DMP Asset Management will care for wholesale tailored portfolio services.
Chief executive of DMP Asset Management Angus Graham said that the merger made sense for the business’s clients.
“The depth and breadth of knowledge and experience of the two teams increases the bench strength significantly.
“The merged entity combines the strength of SGH’s and DMPAM’s investment performance and research capability, with DMPAM’s long history in managing bespoke private client portfolios – including some clients that have been with the firm for over 28 years,” he said.
Mr Graham said the business would continue to have its focus on providing management to wholesale clients.
“The business will retain its focus on providing funds management, asset allocation and portfolio construction solutions to wholesale clients,” said Mr Graham.
SGH chair Stephen Hiscock said the merger would strengthen the investment capabilities of the businesses to the benefit of clients.
“We believe it is timely to strengthen both businesses through a merger to form a larger entity, whilst maintaining the strength of independence from outside financial institutions,” he said.
Mr Hiscock said that clients would see the results of the merger but it would not impact their the day-to-day.
“Both DMPAM and SGH have a long track record and culture of client focus. From our clients’ point of view, it is business as usual.”
Following the merger Mr Hiscock will join the DMPAM board while Mr Harry Cator and Mrs Brenda Shanahan from DMPAM will join the SGH Board.