Rathbone Brothers PLC (LON:RAT) has snapped up the Personal Injury and Court of Protection business of Barclays Wealth.
The wealth manager said the acquisition is line with its statement in October that highlighted expansion into new specialist financial businesses as one of its six strategic priorities.
Barclays' personal injury business comprises approximately £500m of funds under management on behalf of approximately 600 clients and their deputies and trustees.
A team of ten individuals will join Rathbones' current specialist team at completion, which is expected in the second quarter of 2020.
Paul Stockton, Rathbones’ chief executive said: "The Personal Injury and Court of Protection sector is an attractive specialist part of the UK Wealth Management market.
“The Barclays Wealth team are highly experienced and have a strong set of relationships in their sector.”