BROADSTONE Pensions and Investments today announces its acquisition of the corporate pensions business of UBS Wealth Management UK for an undisclosed sum.
The UBS Corporate Pensions business provides general pensions’ consultancy advice to employers who operate Defined Contribution pension schemes; typical schemes have between 100 and 1,500 members. The acquisition strengthens BROADSTONE’s existing business offering of Defined Contributions services.
The team of six, led by Vanda Cox, which currently operates out of UBS's London offices, will be transferred to BROADSTONE’s offices at 55 Baker Street, London, with effect from 1 December 2012.
Following the acquisition, the BROADSTONE Group employs 228 people across 8 locations in the UK.
Commenting on the acquisition, Mark Howlett, Chief Executive of BROADSTONE, said:
"We look forward to welcoming the team from UBS on board. We believe we are well placed to provide clients with an excellent service as our corporate pensions business is one of BROADSTONE’s core service offerings. There is a high level of synergy between the corporate benefits business activities of BROADSTONE and the corporate pensions business of UBS Wealth Management UK as well as efficiencies of scale that will be created within that business.