Pensions provider James Hay is acquiring investment FinTech platform Nucleus.
In Brief:
The deal is set to be worth £145mn.
It has just gained approval from the Financial Conduct Authority (FCA).
It will bring together £28.3bn Assets Under Administration from Hay and £18.9bn from Nucleus.
What does this mean?
The deal is said to be “one of the biggest UK deals in years”, says CityAm, which reports that the two businesses will operate independently for now while they work on plans for integration.
