Independent SA wealth and asset manager Anchor Capital has partnered with UK peer group Credo in a deal that enables Anchor to spread its wings beyond SA, where it has accumulated R120bn in assets under management over the past decade.

Anchor shareholders will own 80% of the UK independent wealth manager in a R2.5bn transaction that will broaden the asset base of the merged entity to R230bn. Credo caters to more than 7,000 ultra-high-net-worth clients with assets under management of £4.6bn (R104bn at the present exchange rate)...

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