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Bermuda National to buy JO Hambro

Bermuda National Limited, the financial services investment holding that owns Bermuda Commercial Bank, has entered into a sale and purchase agreement to acquire the holding company of JO Hambro Investment Management, from Credit Suisse.

The deal, which has a total cash consideration of $50 million, would give Bermuda National 62.5 percent of JOHIM CS’s issued share capital with the remainder owned by JOHIM’s management and staff, who are investing together with Bermuda National, according to a company statement.

JOHIM, which was founded in 1986, is a London-based specialist investment manager focused on portfolio management for private clients, charities and institutions as well as offering in-house managed investment funds. It was acquired by Credit Suisse in 2001 and as of December 2012 had £3.6 billion ($5.48 billion) of assets under management. JOHIM’s unaudited pre-tax income for the year ending December 2012 was £6.6 million on revenue of £25.2 million.

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Published April 05, 2013 at 9:00 am (Updated April 04, 2013 at 8:04 pm)

Bermuda National to buy JO Hambro

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