Registered in England and Wales. Company registration number: 04034645
VAT registration number: 765 4893 78
This site complies with Rule 26 of the AIM Rules for Companies. This website is owned by Merchant House Group Plc and hosted by Tinderhouse Limited. This section was updated on 3 November 2008.
31 January 08
Merchant House Group PLC
31 January 2008
Merchant House Group PLC (‘MHG’ )
(GB0000577386)
Creation of Merchant Wealth Management marks further step into new business model
AIM-quoted Merchant House Group (MHG) is pleased to announce the formation of
Merchant Wealth Management Limited, to introduce wealth management services to
its own corporate and, in future, private clients. The new company is 100% owned
by MHG.
It marks the latest in a series of moves to broaden the corporate and merchant
banking services provided by MHG, using a new business model devised to increase
revenue and operating margins through revenue sharing partnerships that will
function on a low cost basis.
This development means that Merchant Wealth Management can introduce the private
clients of the Group to major providers of pensions, business and private
insurances, asset management, trust and estate planning and immediate needs
annuities. Paul Hassall FCII, CeMAP joins the board of Merchant Wealth
Management. Paul brings 26 years experience including with Royal and Sun
Alliance Group and as a partner in St James Place Wealth Management
The creation of Merchant Wealth Management follows two other new moves announced
earlier this month – the creation of Merchant Legal to provide commercial legal
services to clients, and the strengthening of MHG’s corporate finance division
with the recruitment of senior corporate financiers. Like Merchant Wealth
Management, both of those divisions will operate on a revenue-sharing basis.
MHG Chairman Martin Eberhardt said, ‘We see Merchant Wealth Management as
another strong example of our new approach, seeking to maximise the
cross-selling opportunities deriving from our corporate finance and broking
activities. We look after corporate clients that are looking for a fund-raising
or listing, and it is clear the directors might also be thinking of their own
personal wealth issues.’
An existing client base for the services of Merchant Wealth Management may also
stem from the activities of Merchant House Finance, which arranges leasing and
asset finance for private jets, race horses and yachts.
Along with Paul Hassall, Richard Smith, Matthew Hassall and Julie Roberts are
also supporting the services available through Merchant Wealth Management.
For further information contact:
James Holmes, Director, Merchant House Group plc: 020 7332 2200
Allan Piper, First City Financial Public Relations: 020 7242 2666
Alex Borrelli, Nominated Adviser,
Shore Capital and Corporate Limited: 020 7408 4090