Interactive Investor completes acquisition of TD Direct Investing
Interactive Investor has now completed the acquisition of TD Bank's European direct investing arm (TDDI), bringing its total assets under administration (AUA) to a total of £21bn.
The company plans to move all clients onto a single investment platform later this year, and will be working to improve research and analytics tools available to users. The deal also gives Interactive Investor much greater continental reach, and customers can now trade in 9 currencies across 32 countries. Originally announced in October, the acquisition was financed by J.C. Flowers & Co, which now holds a majority stake in the combined business.
Richard Wilson, CEO of Interactive Investor commented: "We are delighted that our acquisition of TDDI has received regulatory approval. We are in a strong position to deliver our enhanced product offering to all our customers - old and new - providing them with value added services at industry leading rates."
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