This week sees the completion of Knox Financial Services’ sale of its Lasenby Knox business to Edgewater Associates, which follows closely behind Edgewater Associates’ acquisition of MBL Financial.
Steve Locking, former Managing Director at Lasenby Knox moves on to continue his career in the financial advisory arena.
Discretionary fund manager Creechurch Capital, which is part of the Knox Financial Group, will also see its Head of Investments move to Edgewater Associates to pursue a career in the financial advisory space as the Knox Financial Group of companies focuses its services within the discretionary marketplace. The Knox Financial Group will retain its Lasenby Knox brand in the UK.
Commenting on his team’s exit, Steve Locking said: “As the Knox Financial Group moved its strategy away from the IFA market, the leadership team worked with us to ensure a positive exit. We’d like to thank them for this support and we look forward to making more announcements around our new firm’s official launch in due course.”
Mary Brady, chief operating officer at Knox Financial Group added: “We see increasing opportunities in the local market for our discretionary management services which complements Creechurch Capital’s significant growth internationally. Six years from launch and eight international industry awards later, we’re ready to build on these strong foundations.
“Even though we are choosing to exit the advisory space, Steve and his team have done an excellent job for us and we wish them the very best for the future.”