BDO Making Changes to Wealth Management Business
Oakley Capital was the only buyer of the major stake in the Wealth Statement Business of BDO. After selling majority stake, BDO also appointed a new CEO for its company.
Oakley Capital now owns around 84.4% of the total BDO Investment Management Ltd which obviously now provides corporate benefits to corporates and individual. BDO still own stake in the company but is only 15.6%.
Partnership of the firm with Oakley Capital will be very helpful for the company. The firm also said that this partnership will surely help BDOIM to reach at the higher level by consuming the capital provided by Oakley Capital. BDOIM is planning to expand rapidly and win more corporate clients in a very short period of time.
David Pitman who is now the new CEO of BDOIM (also the former CEO of Close Wealth Management) said that BDOIM has now a much stronger market position as a very good provider of client-focused advice throughout the UK.
David Pitman also said that the combination of the highly qualified and the best advisers and the fee-based business model will help BDOIM reach at the level where it was never before. Reaching this level with that much capital in hand will also be much quicker than ever expected from this company.
The partnership with Oakley Capital will be very helpful for BDOIM. The capital provided by Oakley Capital will help the company to grow discretionary funds under the management and will help it to grow many times.