Kingswood Announces Further US Investment - Seite 2

Gary Wilder, Group CEO at Kingswood, commented: "We are absolutely delighted to increase our investment and finalise agreements to acquire a majority interest in the re-named Kingswood US. Mike and his team have continually shown that they are highly talented, best in class operators in the IBD, RIA space and the recently formed full-service Investment banking business, Kingswood Capital Markets. We intend to grow this business substantially, leveraging our growing US distribution franchise.  I have no doubt the capital we deploy will drive exceptional organic growth across the Kingswood US platform. This reflects the desire of both parties to develop a highly accretive global platform providing clients access to investment products and services in major US and UK markets.

Kingswood's enhanced investment in Kingswood US will further cement a key, strategic foothold in the largest global wealth and investment management market, differentiate us from our peers and support our aspirations of asset linking and cross-selling services. This investment and intention to fund further growth equity is a major statement of intent regarding our US expansion plans and puts us in a strong position to execute our US strategy, supported by the in-place, operating and management platform. Mike and his team will oversee acquired entities and focus on delivering Kingswood US's full-service brokerage, investment advisory and investment banking proposition to clients. Combined with Derek Bruton, who joined our US business with the Chalice acquisition, we now have considerable industry knowledge and experience to deliver a successful US outcome for the Kingswood Group and I’m greatly looking forward to working with them.”

Mike Nessim, Managing Partner of Kingswood US, added: “This partnership with the Kingswood listed entity is beneficial in so many ways, and a major advantage in my strategy to boost AUM, accelerate adviser recruitment, continue to substantially build our investment banking business nationwide and achieve a significant foothold in the largest wealth management market globally. I am incredibly excited to be partnering with the Kingswood Group and exploring the many opportunities for our integrated broker dealer, advisory and investment banking platform. The potential is enormous, and we now have the backing to deliver the next phase of our ambitious business plan."