Swedish asset manager, Catella, has purchased wealth manager, EKF Enskild Kapitalförvaltning, for an undisclosed sum, Citywire reports. As per the deal, EKF Enskild will be rebranded to Catella Förmögenhetsförvaltning. The new firm will focus on model portfolio building and offer a full-service alternative to the internet brokers’ “do it yourself” model. The move will increase Catella’s total asset under management to $7.16 billion. The newly formed unit will provide financial advisory within long term wealth management.
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