Dexia, the Belgian financial services group, has sold its boutique operation, Ely Fund Managers, to UK-listed Rathbone Brothers.

Rathbone looks after private client funds totalling £9.5bn (€14bn). It has paid £14m for Ely, which manages assets worth £580m.

Mike Foster

Rathbone Brothers

Dexia

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Rathbone buys Dexia's Ely

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