News

A well-known Angus-based firm of independent financial advisers has been acquired in a multi-million-pound deal.

Ferguson Oliver has been re-branded after Chase de Vere acquired the entire share capital of the Brechin company in a £3.85 million deal.

Founded in 1989 by Mike Ferguson, who was later joined by his twin brother Ken, the firm’s reach extends from Perth to Inverness.

The deal has been described as “the perfect springboard” into the north-east of Scotland for Chase de Vere, which has 16 offices across the UK.

The firm has now embarked on a recruitment drive for financial advisers.

Chase de Vere chief executive Stephen Kavanagh said: “I’m really pleased that Ferguson Oliver is now fully on board as part of Chase de Vere.

“I’ve been really keen to grow our business in the north-east of Scotland and this gives us the perfect springboard.”

Ken and Mike Ferguson are wellknown figures in the area, especially in sporting circles.

Ken is chairman of Brechin City Football Club, while Mike is the owner of Forfar Ice Rink and a keen curler.

Mike, founder of Ferguson Oliver, said: “The integration with Chase de Vere has gone remarkably smoothly considering the backdrop of the coronavirus and with all of our staff working from home.

“I’m delighted that everything is now complete and that we are part of Chase de Vere.”

A spokesman for Chase de Vere said the firm’s focus in Scotland had previously been in Glasgow and the Ferguson Oliver acquisition was part of a long-term growth project and would see the firm develop in the north-east.

Recruitment at the firm over the next three years would be “on the basis of quality rather than quantity”, the spokesman added.