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Bermuda National Limited Completes Purchase Of Asset Manager From Swiss Bank
Stephen Little
6 August 2013
Credit Suisse has sold its London-based J O Hambro Investment Management business to Bermuda National Limited, following approval from the Financial
Conduct Authority. The acquisition allows JOHIM’s existing management continued
autonomy in running the business and the opportunity for the management and
staff of JOHIM to become shareholders alongside BNL, JOHIM said in a statement. Credit Suisse Group bought JOHIM 12 years ago. JOHIM said that there are no plans to change the management
team, business model or investment process and that existing independent
directors will remain on the executive board. BNL is a Bermuda listed
financial services holding company created to own financial institutions,
including banks and investment advisory businesses. Its major investor is UK-listed
international investment group Utilico.