European Wealth Group (LON:EWG) has signed an agreement to buy US fund platform Newbridge with only regulatory approval needed in the US and UK needed for the deal to be completed.
Marianne Ismail, European Wealth’s chief executive, said: "This is a unique opportunity to invest in an established, well-positioned and nationally represented US company.
“It significantly increases our global footprint by gaining immediate access to the largest wealth management market in the world, which we intend to build and scale substantially.
“This acquisition of Newbridge will help us deliver a differentiated strategy in the financial services arena. “