Fenchurch Advisory was established to serve the unique requirements for expert corporate finance and M&A advice to the financial services industry.

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The Firm Open
Close Malik Karim

<p>Founder and Chief Executive of Fenchurch</p> <p>Over 25 years of investment banking experience</p> <p>Formerly a Managing Director of Credit Suisse/DLJ and previously a Director of Kleinwort Benson</p> <p>Qualified as a Chartered Accountant with Arthur Andersen</p> <p>MA (Economics) University of Manchester</p>

Malik Karim
Founder and Chief Executive

Since formation, we have acted on some of the most complex transactions in the industry and demonstrated a sure touch in delivering success irrespective of market conditions.

We develop long-term trusted advisory relationships with our clients, supporting them throughout cycles in identifying and pursuing strategic alternatives. Our senior team is dedicated to every client assignment, fully committed to discretely providing the highest calibre of service, industry expertise and insight.

Our deep understanding of financial services and its inter-connectivity enhances our ability to execute M&A transactions for our clients – this is the foundation of our client proposition.

Our team of senior bankers is highly experienced and has worked together for more than two decades. We have managed to keep everyone challenged and maintain a simple business model. There is a tremendous amount of camaraderie within our team and we always operate as one business with a single agenda: to help our clients solve their strategic issues and exploit opportunities. This is facilitated by the full alignment of our business model with our clients’ interests.

Our firm is independently-managed with a partnership culture. Our track record of taking a long-term and independent view on behalf of our clients has meant that we have been privileged to secure an exceptional amount of repeat business.

As of June 2018, Fenchurch is an independently-managed affiliate of Natixis, part of Groupe BPCE.

Profile

Malik Karim

“I am privileged to lead a stable group of immensely talented bankers who have built Fenchurch with exceptional teamwork. The firm has developed an excellent reputation and is well positioned to continue to reinforce our unique position as the only specialist independent adviser dedicated to financial services with an industrial scale sector capability.”

Malik Karim Founder and Chief Executive

Case Study

£185 million

Advising the Co-operative Group on the sale of its insurance underwriting business to Markerstudy and agreement of a 13-year distribution agreement for home and motor insurance.

Jan 2019 United Kingdom

£271 million

Advised Premier Asset Management on its recommended all-share merger with Miton Group.

Sep 2019 United Kingdom

€1.2 billion

Advising AXA on the sale of its European variable annuities carrier, AXA Life Europe, to Cinven.

Aug 2018 Ireland

£1.7 billion

Advising Hastings Group plc on the recommended cash offer from a consortium of Sampo and RMI.

Aug 2020 United Kingdom

£1.9 billion

Advised Investec on the demerger of its Asset Management business (rebranding to Ninety One).

Nov 2019 United Kingdom & South Africa

£140 million

Advised L&G on the sale of Cofunds to Aegon.

Aug 2016 United Kingdom

£375 million

Advised Sun Life Financial on the acquisition of a majority stake in InfraRed Capital Partners.

Dec 2019 United Kingdom

£3.25 billion

Advising Swiss Re on the sale of ReAssure to Phoenix Group.

Dec 2019 United Kingdom

£3.24 billion

Advised Standard Life Aberdeen on the sale of its insurance business and long-term strategic partnership with Phoenix Group.

Feb 2018 United Kingdom

Undisclosed

Advised Groupe BPCE on the acquisition of a 50.1% stake in Oney Bank and entering into a long term strategic partnership.

Feb 2019 France

£370 million

Advised Jupiter Fund Management on the proposed acquisition of Merian Global Investors.

Feb 2020 United Kingdom

£578 million

Advised LV= on the sale of its remaining 51% stake in LV= General Insurance to Allianz.

May 2019

£410 million

Advised Hermes Investment Management on the sale of a 60% stake to Federated Investors.

Apr 2018 United Kingdom

£2.5 billion

Advising The Ardonagh Group on its group refinancing including a combination of both private and public instruments.

Jun 2020 United Kingdom

£242 million

Advised Legal & General on the sale of its general insurance business to Allianz.

May 2019

£12 billion

Advised Standard Life plc on its recommended all-share merger with Aberdeen Asset Management plc.

May 2017 United Kingdom
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Advised Jupiter Fund Management on the proposed acquisition of Merian Global Investors.

Counterparties
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Advised Sun Life Financial on the acquisition of a majority stake in InfraRed Capital Partners.

Counterparties
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Advised Investec on the demerger of its Asset Management business (rebranding to Ninety One).

Counterparty
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Advised Premier Asset Management on its recommended all-share merger with Miton Group.

Counterparties
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Advised Hermes Investment Management on the sale of a 60% stake to Federated Investors.

Counterparties
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Advised Standard Life plc on its recommended all-share merger with Aberdeen Asset Management plc.

Counterparties
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Advised L&G on the sale of Cofunds to Aegon.

Counterparty

Fenchurch is pleased to have advised Legal & General on the sale of Cofunds to Aegon for £140m. Cofunds is the largest investment platform in the UK with £77bn AUA. The sale includes the Investor Portfolio Service which provides platform services to a number of building societies including Nationwide.
 
L&G concluded that Cofunds requires a significant upgrade in technology to exploit its leadership position in the UK platform market and this was best achieved under Aegon's ownership as a specialist wealth platform provider.
 
For Aegon UK this transaction completes its strategic transformation from traditional life insurance to platform business and follows L&G’s acquisition of a £2.9bn back book annuity portfolio from Aegon in May 2016.
 
Mark Gregory, Legal & General Group Chief Finance Officer commented: “We were impressed by Fenchurch’s commitment to this engagement. Their deep sector relationships, intimate knowledge of the UK platform sector and first class M&A execution skills were important factors in successfully delivering this transaction.”

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Advising Swiss Re on the sale of ReAssure to Phoenix Group.

Counterparties
Close

Advising AXA on the sale of its European variable annuities carrier, AXA Life Europe, to Cinven.

Counterparties
Close

Advised Standard Life Aberdeen on the sale of its insurance business and long-term strategic partnership with Phoenix Group.

Counterparties
Close

Advising Hastings Group plc on the recommended cash offer from a consortium of Sampo and RMI.

Counterparties
Close

Advising The Ardonagh Group on its group refinancing including a combination of both private and public instruments.

Counterparties
Close

Advised Legal & General on the sale of its general insurance business to Allianz.

Counterparties
Close

Advised LV= on the sale of its remaining 51% stake in LV= General Insurance to Allianz.

Counterparties
Close

Advising the Co-operative Group on the sale of its insurance underwriting business to Markerstudy and agreement of a 13-year distribution agreement for home and motor insurance.

Counterparties
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Advised Groupe BPCE on the acquisition of a 50.1% stake in Oney Bank and entering into a long term strategic partnership.

Counterparties