Ravenscroft reaches assets under administration milestone
16 October 2015
Ravenscroft's assets under administration have reached more than £2 billion for the first time.
In its interim report, the company, which is the only independent stockbroking and investment management company in the Channel Islands, saw assets under administration reach £2.06 billion, a 42% increase on its position at the end of June 2014 of £1.45bn.
Group Chief Executive Jon Ravenscroft said the milestone was a great way of celebrating the company's 10th anniversary.
"I was delighted with our 2014 results and am thrilled to see our assets under administration reach £2 billion in 2015, which in turn will lead to an increase in recurring annual revenue. This strong performance is great news for our team and for our stakeholders.
"Another highlight of the year was the completion of the Vartan acquisition in March when we purchased a 75% stake in another independent stockbroking and investment management company based in Peterborough, which is now trading as Vartan Ravenscroft."
Ravenscroft, formerly Cenkos Channel Islands, was founded in Guernsey by Mr Ravenscroft in 2005 as the offshore private client focussed subsidiary of Cenkos Securities plc, itself founded by Ravenscroft Chairman Andy Stewart.
This year has seen a number of key appointments to the Ravenscroft teams in Guernsey and Jersey, and in August it was announced that Stephen Lansdown had trebled his shareholding in Ravenscroft Limited through his family office Pula Investments Limited from 9.36% to 27.86% at a cost of more than £9 million. Mr Lansdown has subsequently been appointed to the board of Ravenscroft as a non-executive director.
As investment manager to Bailiwick Investments Limited and the Channel Islands Property Fund, Ravenscroft has also been involved in a number of major transactions during the year and the team continues to have some exciting deals in the pipeline.
"We want to continue investing in the islands and ensuring that our clients, the majority of whom are locally based, are rewarded for their faith in us," said Mr Ravenscroft.Back to News
Get the latest news first
Sign up for our newsletter and get the latest news from the financial industry.