Law firm Stephenson Harwood LLP has advised long-standing client Edward Whitley OBE on the sale of his wealth management company, Whitley Asset Management ('WAM'), to Cazenove Capital, a subsidiary of Schroders.
WAM manages assets of approximately £1.5 billion on behalf of ultra-high net worth entrepreneurs and charity clients. It has circa 120 families as clients, with an average portfolio size of £25 million. WAM was founded by Edward after he left NM Rothschild & Sons in 1990, originally to establish the Whitley Fund for Nature and to manage the proceeds from the sale of his shareholding in the Greenall Whitley family brewing business.
The transaction further strengthens Stephenson Harwood's credentials acting for investment managers on all aspects of their businesses, including M&A, employment, tax, joint ventures, constitutional arrangements, employee incentivisation, and regulatory matters.
"We take pride in the strong, long-lasting relationships we build with our clients," said Ben Mercer, partner at Stephenson Harwood. "Having worked with Edward for the last two decades, I am delighted that we have been able to support him in finding an excellent home for his business, to enable it to enter the next stage in its evolution."
Corporate partners Ben Mercer and Michelle Gomes led the team working on the transaction, supported by corporate associates Matt Kinghorn and Alexander Goodman. The corporate finance team were further supported by a cross-practice team from across the London office, including incentives partner Nicholas Stretch and trainee Fergus Mclaverty, tax partner John Meehan and managing associate Byul Han, employment managing associate Natalie Edwards and associate Aaron Pooni, regulatory partner William Robertson and associate Poppie Bouch, funds partner Nick Horton, and real estate consultant Stewart Scott and associate Stephanie Sagar.
