LONDON/FRANKFURT, Oct 12(Reuters) - Brooks Macdonald (BRK.L) is working with a defence adviser on its strategy amid takeover interest, three people familiar with the matter told Reuters.
Raymond James has had a longer-term mandate for financial advice which recently developed into defence strategy, one of the people said.
Brooks Macdonald and Raymond James declined to comment.
Shares in Brooks Macdonald have dipped since peaking in late 2021 as market conditions soured.
Britain's fragmented wealth management industry has seen increased consolidation in recent years driven by both private equity and strategic players.
Persons:
Brooks Macdonald, Raymond James, Charles Stanley, Brewin, Andrew Shepherd, Pablo Mayo Cerqueiro, Victoria Farr, Amy, Jo Crowley, Anousha Sakoui, Kirsten Donovan
Organizations:
Reuters, Thomson
Locations:
FRANKFURT, British, London, Emma