Citi has completed the acquisition of Quilter from Morgan Stanley. Quilter is a wealth advisory firms with over 5.8 billion of assets under management. The acquisition strengthens Citi’s Global Wealth Management (GWM) presence in the United Kingdom, placing it among the top ten UK wealth managers in client assets.
In addition, Marianne Hay, Ernest Boles, and Robert Stemmons have been appointed to the Board of Quilter Holdings Ltd.
Quilter now becomes part of Citi’s GWM platform in Europe, under the leadership of Marianne Hay, Chief Executive Officer of GWM Europe. Martin Baines, CEO of Quilter, will continue to manage that business within GWM, reporting to Hay and John Longley, Global Head of the international businesses of Citi Smith Barney.
Quilter has over 18,000 clients and 300 staff located in 10 offices throughout the UK, Ireland and the Channel Islands.