Having received the appropriate consent from the Financial Services Authority, ABN AMRO Asset Management Limited and Artemis Investment Management Limited (Artemis) today confirmed the completion of the merger of ABN AMRO Fund Managers Limited and Artemis, both located in the UK. This follows the earlier announcement (11 June), that the two companies had signed Heads of Agreement.
The combined business will operate under the Artemis brand and will have funds under management of approx. EUR 3.6 billion. Mark Tyndall, presently Group Chief Executive, will head the enlarged business, which will operate from offices in both Edinburgh and London.
As a result of the merger, ABN AMRO Asset Management now owns 58% of the enlarged business, the founder shareholders and employees of Artemis 37% and outside shareholders 5%.
(source: ABN Amro)