Brewin Dolphin in talks to acquire Investec’s Irish wealth management business

The company said that the discussions were ongoing and there was no certainty that they would lead to a transaction.

The company’s comments came after the Sunday Times newspaper reported that Brewin Dolphin is competing with Allied Irish Banks (AIB) to buy Investec’s private client stockbroking business, with a price tag of up to 60 million euros ($68 million).

London-based Rathbones is another company interested in acquiring the business, the Sunday Times said.

Both AIB and Rathbones did not immediately respond to requests for comment.

Brewin Dolphin has a network of 30 offices across the UK, Channel Islands and in the Republic of Ireland.

Brewin Dolphin’s office in Leeds has been established for around 100 years. The Yorkshire-based team provides financial planning, bespoke investment management and services for professional intermediaries.

Brewin Dolphin’s Yorkshire-based charity team provides specialist investment management to charities across the region. Eight years ago, Brewin Dolphin agreed to acquire Tilman, a privately owned private client fund management company, based in Ireland.

At the time, Brewin Dolphin said it believed there was a strong demand in Ireland for the services that the firm had to offer.

Investec has sponsored a number of major sporting events in recent years, including horse racing and Test cricket.