JLT in talks to buy wealth management company

Jardine Lloyd Thompson (JLT) Group is in advanced negotiations to buy Iimia Wealth Management (IWM) from Midas Capital for £7.25m in cash subject to adjustment based on the completion balance sheet.

In the six months to 30 June 2009, the IWM businesses contributed £0.46m to Midas' consolidated profit before management charges, amortisation, exceptional items and tax on revenues of £2.9m.

Completion is expected in January 2010.

The news comes in the same week that JLT announced its acquisition of

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