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BNL completes purchase of JO Hambro

Bermuda National Limited (BNL) has completed the acquisition of JO Hambro Investment Management Limited (JOHIM).JOHIM is a London-based specialist investment manager, which focuses on discretionary portfolio management for private clients, charities and institutions. It also offers a suite of in-house managed investment funds. JOHIM’s head office is located in London and has over 100 employees. It currently has over $6 billion of assets under management.“The acquisition of JOHIM is a significant one for BNL and will provide a number of opportunities for the group going forward,” said Warren McLeland, chairman of BNL. “BNL continues to look at opportunities in the financial services sector and the acquisition of JOHIM is indicative of the type of quality company that BNL is seeking to identify to grow the group further.”Said Hugh Grootenhuis, chief executive officer of JOHIM: “We are delighted to have completed this important transaction. We look forward to working with our new partners in what we believe will be an exciting new phase in our development.”BNL is a listed exempt financial services investment holding company whose major assets include its 100 percent owned subsidiary, Bermuda Commercial Bank Limited.