Today’s news in brief – 4/3/2025

Partners Wealth Management (PWM) has acquired Johnston Carmichael Wealth for an undisclosed amount. This acquisition brings PWM’s total assets to £6bn, managing 5,500 clients. Johnston Carmichael Wealth, based in Aberdeen, managed £855m for 1,500 clients and will retain its existing team, led by Craig Hendry. The deal strengthens PWM’s position in the wealth management sector and expands its footprint in Scotland. PWM aims to enhance its services and continue its growth across the UK. Fiona Oliver, PWM’s managing partner, expressed excitement about the acquisition’s potential to expand its client relationships and long-term strategy. Clive Owen LLP has appointed Simon Hook and Kevin Shotton as joint managing partners, following Gary Ellis’ successful tenure. Ellis, who joined in 1996 and expanded the firm significantly, will remain on the management committee. Hook, a finance partner since 2013, and Shotton, responsible for audit compliance, both have extensive experience at the firm. Hook and Shotton plan to build on Ellis’ legacy, focusing on a collaborative leadership style and fostering Clive Owen’s people-first culture. The firm’s growth during Ellis' leadership, including two new offices, sets the stage for continued success under the new leadership. Xeinadin has acquired two Northern England accountancy firms, Gibson Booth Limited and King Hope, strengthening its presence in the region with 16 offices. The acquisition expands Xeinadin’s services in sectors such as agriculture, charity, and education, providing local SMEs with more resources. Gibson Booth will continue its practice as Xeinadin Barnsley, while King Hope maintains its focus on providing personalized services. CEO Derry Crowley expressed excitement about the strategic move, reinforcing Xeinadin’s commitment to supporting local businesses. Both Gibson Booth and King Hope’s teams are now part of Xeinadin’s nationwide expansion efforts, ensuring stronger client support. PKF Littlejohn assisted Fintech Asia Limited in acquiring ICFG Pte. Ltd., enabling the company’s listing on the London Stock Exchange (LSE) under its new name, ICFG Limited. This reverse takeover involved issuing 177,840,000 new shares, with a market capitalization of £130.5m. ICFG specializes in microfinance, leveraging technology for scalability, and has expanded from Mongolia into Central Asia. PKF acted as the reporting accountant during the transaction, with contributions from various team members, including Mark Ling and Adam Humphreys. PKF’s partner, Adam Humphreys, expressed excitement for ICFG’s future prospects following the successful listing and acquisition.