Feb 14 Standard Life is in exclusive
talks to buy Newton Investment Management's wealth management
arm for up to 90 million pounds($140 million) in a deal that
could be announced imminently, the Telegraph reported on
The British life insurer's bid for Newton's 3.5
billion-pound wealth portfolio is being led by Richard Charnock,
head of its Standard Life Wealth, the Telegraph reported.
The daily said the other bidders were Quilter, owned by
private equity firm Bridgepoint, and private bank Rathbones.
Standard Life has entered exclusivity following several
rounds of bidding.
Helena Morrisey, chief executive of Newton Investment
Management is also involved in the discussions.