Alternative Market Briefing

M&A - BNY Mellon acquires Insight Investment from Lloyds for GBP253m

Wednesday, August 12, 2009

From the Opalesque Team:

Insight Investment today announced that the firm will become an autonomous subsidiary within BNY Mellon Asset Management.

'Over the course of the last few months, Insight's senior management team has evaluated a full range of strategic options for the future structure and ownership of Insight's business. The key criteria that we have been seeking to satisfy have been:

To preserve Insight's culture, philosophy and autonomy
To protect clients' investment performance and service quality by avoiding the disruptive impact of integration
To maintain our clear focus as a specialist investment business built around our core competencies.

We are very excited by the opportunities that this deal presents. Insight will continue to operate on a standalone basis maintaining the culture and philosophy that forms the foundations of the business today. The BNY Mellon Asset Management multi-boutique approach offers the attractive combination of continued autonomy for Insight and long-term stability for our clients. This enables us to manage the business to meet our clients' needs and offer the backing of a very strong Aaa/AA-rated global financial institution for which asset management is a core strategic priority.'

Insight Investment had previously reported that H1 2009 profits were up 31% compared to the same period in 2008. Total Funds under management now stand at GBP122.5 billion, up from GBP11......................

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