Rathbones to spin off third trust business after 20% asset slump

Rathbones, the UK-based private client asset manager, is preparing a management buyout of its third core trust business in less than two months, as part of an ongoing plan to sell its offshore operations, as assets under management slump 20%.

The asset manager said it has entered into a non-binding agreement to sell its Geneva-based trust business, Rathbone Trust Company SA, to its management.

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