Manx Financial Group Plc acquires Edgewater Associates Limited

Manx Financial Group Plc acquires Edgewater Associates Limited

MFG is the AIM listed holding company of the Isle of Man's only independent bank, Conister Bank Limited, and also, of pre-paid card specialist Conister Card Services Limited.

Commenting on the acquisition, Denham Eke, CEO of MFG said:

"This is an important acquisition for the Group and is evidence of our strategy in action. The transaction diversifies our earnings and accelerates our business plan in the 'Wealth Management' arena whilst reinforcing our ongoing focus on the Isle of Man as a place to do business."

He continued:

"I am extremely pleased to be able to welcome the management and staff of Edgewater to the Manx Financial Group in a transaction which brings together Conister Bank, one of the Island's most trusted and longest established banks, with a leading firm of Independent Financial Advisors. I am excited by the opportunity to further develop the range of services available to the customers of both Conister Bank and of Edgewater."

Edgewater Associates was founded in 1996 and is led by Directors, Steve Locking and David Hathersich-Jones. Commenting on the acquisition, they said:

"This is an extremely exciting time for Edgewater and its people as they strive to offer high quality, independent financial advice to both new and existing clients. The acquisition by Manx Financial Group is endorsement of the quality of the advice and service that we have provided thus far whilst at the same time will provide opportunities to work more closely with companies in the Manx Financial Group."

Edgewater Associates will continue to trade under the Edgewater name and from its offices in Douglas and Ramsey under the leadership of its executive: David Hethersich-Jones and Stephen Locking.