Sharebroker ABN Amro Craigs will become Craigs Investment Partners from August 31, reflecting that Craigs has officially repurchased the 50% equity stake in the company previous held by the Royal Bank of Scotland.
Craigs chairman Neil Craig said last night the rebranding coincided with ABN Amro Craigs marking 25 years in the investment, advisory and investment management industry.
The new business, which employed more than 300 people, was built on three business units:
• Private client advisory.
• Institutional equities.
• Investment banking.
The business units would be managed independently, he said.
As part of the buyout, ABN Amro Craigs entered into a strategic alliance with the Royal Bank of Scotland, giving the new firm access to international research, global sales, shared global and domestic capital expertise, cross-border mergers and acquisitions and international market knowledge and expertise.
"It has been an exciting start to 2009 and from the rapidly changing financial markets, this unique opportunity presented itself from circumstances unrelated to our very strong business.
"We are now placed in an excellent position for future growth and can take advantage of any further opportunities as they arise," Mr Craig said.
