Strategic Report
Governance Report
Financial Statements
Company Financial Statements
Case studies of Board decisions in the year
1 Sale of BMI In 2024, the Board initiated a strategic review of its international operations to align with the Group’s long-term focus on the UK wealth market. The review concluded that the best interests of BMI’s and the remaining Group’s stakeholders was best achieved through the sale of the international business. The sale of BMI to Canaccord Genuity Wealth Management (“Canaccord”) was announced in September 2024 and completed on 21 February 2025. The disposal supports our strategy to Reignite Growth, creating a UK-focused wealth manager. S.172(1) considerations • The Board evaluated the long-term impact of the divestment of BMI on its retained operations, as well as on stakeholders of both the Group and BMI. • Sale of BMI allowed the Group to focus its strategy and resources on the UK wealth market. • The Group understands that Canaccord intends to integrate BMI’s operations, thereby strengthening its existing wealth management capabilities in the Channel Islands and enhancing client service. • When selecting Canaccord as the new owner for BMI, the Board considered its strong regional presence and aligned values, including a demonstrated commitment to long-term sustainability and environmental responsibility, ensuring continuity for clients, employees, and the broader community. • The Group actively monitored investor feedback and sentiment regarding the BMI business.
Key stakeholder impact Clients
Employees We maintained regular engagement with our BMI employees to ensure a smooth and respectful transition throughout the transaction. All employees were transferred to Canaccord, preserving roles and relationships. The selection of a culturally aligned acquirer helped ensure continuity and future opportunity for our colleagues.
To maintain a clear focus on client continuity and trust, we established a comprehensive transitional service agreement with Canaccord. The selection of Canaccord was a client- centric decision, as Canaccord already had an established track record for serving international clients and had demonstrated the ability to integrate businesses effectively and serve complex client needs. Regulators We engaged with the relevant regulators throughout the process to ensure full compliance with applicable requirements and to facilitate a smooth and orderly transition, which demonstrates the Board’s commitment to regulatory integrity and operational transparency during significant corporate actions.
Shareholders We had open and transparent communication with shareholders and highlighted the alignment with our long-term strategy to focus on the UK market, enhance operational efficiency, and drive sustainable growth.
Brooks Macdonald Group plc Annual Report and Accounts 2025
65
Made with FlippingBook - professional solution for displaying marketing and sales documents online