Liontrust Asset Management PLC (LSE:LIO) has agreed to acquire its Swiss rival GAM Holdings for £96mln in an all-paper deal.
The GAM swoop will create a global asset manager with £53bn in assets under management and advice.
Liontrust chief executive, John Ions, stated that the transaction accelerates the firm's growth, enhances distribution, and broadens product capabilities.
It will also expand Liontrust's presence in Europe, Asia, and the US, and create a broader client base for both firms' funds globally.
Ions added: "We have been impressed by the quality of the investment teams at GAM.
"There is a commonality in that Liontrust and GAM are both committed to independent and distinct processes for each of their investment teams.
"Liontrust specialises in providing an environment in which investment teams can thrive, including through the excellence of our sales and marketing, a robust business infrastructure, strong risk and compliance culture, and the stability that comes with financial strength."