Amvescap will pay Old Mutual $200m (€224m) for American fund manager Pell Rudman, which it plans to use as the cornerstone of a wealth management business.

Amvescap, advised by De Guardiola Advisors, will pay $172m in cash and up to $28m over the next two years, depending on how much of the existing assets are retained. Old Mutual was advised by Goldman Sachs.

Amvescap acquires Pell Rudman from Old Mutual

William Hutchings

Old Mutual

Goldman Sachs

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