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Deals Of The Day: The Latest In Wealth Management M&A – Shard Capital, Omnium

This post was originally published on this site

Editorial Staff, 24 September 2021

The latest developments in financial products and investments from around the world.

Shard/Omnium Merger
Wealth manager Shard Capital, interviewed by this new service earlier this month, has taken a 50 per cent stake in fast-growing Dublin-based investment platform Omnium. The deal is expected to help Shard expand business inside Ireland and gain access to the larger EU-regulated market.

In return, the capital injection from Shard will allow the Dublin wealthtech to accelerate growth and meet demand, which Omnium CEO Christopher Ovenden says “has shot through the roof in the last 12 months,” with the firm seeing five years of digital transformation in one year, it said.

The deal is characteristic of Ireland’s growing prominence following the UK’s exit from the European Union. As a major bookings and wealth advisory hub, it has also been drawing attention as a favoured EU bolt-hole for US big techs in the debate over raising corporate tax revenues. This publication will be reporting on changes in the Irish market in the coming weeks.

“Shard and Omnium’s partnership represents a fantastic opportunity for expansion for both organisations and provides us with the ideal platform to expand our offering across both Ireland and the EU27,” Shard Capital CEO Toby Raincock, said.

The transaction is subject to regulatory approval from the Central Bank of Ireland.