A J Bell, a Manchester-based SIPP provider, has purchased OMX Securities’ Lawshare Limited, a securities company and provider of stockbroking and associated services to investment houses and asset managers.
The acquisition was completed on 12 December 2007. As part of the agreement Lawshare will continue to use OMX Securities for the provision of its core ASP stockbroking system.
“This is a significant step in the evolution of our business and will allow us to continue to strengthen our core competencies from a single consolidated operation. The divestment of Lawshare is the final part of our streamlining and efficiency programme, designed to deliver our goal of being the partner of choice for our clients,” says Angus Macdonald, CEO, OMX Securities.
“This deal is great news for our clients and staff. Becoming part of A J Bell provides us with an excellent opportunity to continue to grow our business and increase the services we can offer to our current and future clients,” adds Charles Galbraith, managing director, Lawshare.
“We are delighted to acquire Lawshare, whose services in the wealth management sector are complementary to those that we currently offer. We have great confidence in the products and services that OMX Securities supply and look forward to working closely with them in the future”. says Andy Bell, CEO, A J Bell Group.