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Standard Life to acquire Baigrie Davies

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Standard Life to acquire Baigrie Davies

Standard LifePlc's wholly owned financial planning unit, 1825, said April 5 thatit agreed to acquire Baigrie Davies.

Baigrie Davies, which has £400 million of assets underadvice with 30 employees, 11 financial planners and five paraplanners, willform 1825's London regional office. Upon closing the deal, and those ofAlmary Green andMunro Partnership,Standard Life will have 70 financial planners advising 9,400 clients on £3.0billion of their assets.

Ian Howe, Baigrie Davies' managing director, will continueto be responsible for 1825's London office and will become a member of 1825'sexecutive committee. Founder Arthur Davies will remain with the business whilethe co-founder, Tom Baigrie, will leave to concentrate on his other businessLifeSearch, a U.K. protection broker.

The deal, subject to certain conditions being satisfiedincluding receipt of regulatory approvals, is expected to be completed in thethird quarter.