Rathbones
Rathbones is a United Kingdom-based wealth and investment management group serving private investors, trustees and institutions.
Last updated August 26, 2026
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Overview
Rathbones is a British wealth and investment management group with roots in an eighteenth-century Liverpool merchant business. The enterprise was founded by William Rathbone II by 1742 as a timber trader and later expanded into international commerce, shipping, commodities, cotton, tea and agency work connected with transatlantic and Asian trade. During the nineteenth century, the firm operated within Liverpool’s merchant economy, maintaining commercial links with North America, India and China. It became the Liverpool agent for the East India Company in 1841 and established trading houses in Canton and Shanghai before withdrawing from much of its overseas mercantile activity as competitive and economic conditions changed. The firm formally adopted the name Rathbone Bros. in 1824. Its commercial identity gradually shifted during the late nineteenth and early twentieth centuries from merchant trading and ship ownership toward fiduciary, financial and investment activities. A reorganisation in 1912 helped mark this transition. After the Second World War, the business developed its investment management operations and expanded its private-client base. Under the post-war leadership associated with Larry Rathbone, it also broadened its work for pension funds and institutional investors and advised clients on matters including capital-gains taxation. In 1988, Rathbone Brothers merged with Comprehensive Financial Services Ltd, creating Rathbone Brothers plc. The group subsequently developed a broader wealth-management offering covering discretionary investment management, financial planning, tax planning, trust and company administration, pension advice, banking services, unit trusts and related services for private clients, trustees and institutions. Its historic base is Liverpool, while London became its principal headquarters and the group also operates from other UK financial centres. Rathbones expanded through acquisitions in the 2020s. In 2021 it acquired the wealth-management business of Saunderson House from Epiris for approximately £150 million. On 1 December 2021, the company changed its corporate name from Rathbone Brothers to Rathbones Group. In April 2023, it agreed to acquire Investec’s UK and Channel Islands wealth and investment businesses for £839 million, excluding Investec Bank Switzerland and Investec International’s wealth business. The combination materially increased the scale of the group, bringing the combined organisation to approximately £115 billion in assets under management and administration according to the supplied reference material. Rathbones remains an active, listed UK financial-services group. Its services are oriented toward long-term, personalised wealth stewardship rather than mass-market banking. The business serves individuals, families, trustees, charities, pension funds and other institutional clients through investment management, financial planning and associated fiduciary capabilities. In November 2025, it announced plans for an Irish office in Dublin, partly to support service to clients in the European Union. The company’s chief executive is Jonathan Sorrell, who was appointed in March 2025 and joined the business on 1 July 2025.
History
Rathbones traces its origins to a Liverpool timber-trading business founded by William Rathbone II by 1742. In the late eighteenth and early nineteenth centuries, the firm expanded into international merchanting and commission-based trade. It participated in transatlantic commerce linking Liverpool with the eastern United States, became involved in packet services to New York and Philadelphia, and traded in American cotton and other commodities. As restrictions on trade with India were relaxed through measures including the Charter Act 1813 and the Government of India Act 1833, Rathbones developed private commercial connections with India. In 1841 it became the Liverpool agent for the East India Company. The firm also entered the China trade, establishing houses in Canton, now Guangzhou, and subsequently Shanghai. By the middle of the nineteenth century, it had become a significant importer of tea into Britain. These China operations were closed by the 1850s as trading conditions and commercial patterns changed. The business retained an interest in merchant shipping, but increasing competition and structural changes in global trade reduced the attractiveness of ship ownership. Rathbones sold its last vessel in 1889. More broadly, the firm reduced its dependence on overseas trading and shipping during the late nineteenth century and moved toward fiduciary and investment activities. The formal reorganisation of 1912 reflected the movement away from merchant partnerships and toward financial services. The partnership had adopted the name Rathbone Bros. in 1824. Following the Second World War, Rathbones expanded its investment-management work. Larry Rathbone rejoined the firm in 1946 and was associated with its post-war development. The business increased its private-client activities and added work for pension funds and institutional investors. During the 1950s and 1960s, it also provided advice relating to capital-gains taxation while growing the funds managed for clients. A major corporate step came in 1988, when Rathbone Brothers merged with Comprehensive Financial Services Ltd to form Rathbone Brothers plc. The group subsequently consolidated a range of services around investment management and wealth planning. Its offering came to include discretionary portfolio management, unit trusts, tax planning, trust and company administration, pension advice and banking services. This combination allowed the firm to serve private investors and trustees as well as institutional clients. In the twenty-first century, Rathbones pursued growth through wealth-management acquisitions. In October 2021, it acquired Saunderson House’s wealth-management business from Epiris for approximately £150 million. On 1 December 2021, Rathbone Brothers changed its name to Rathbones Group. In April 2023, Rathbones agreed to acquire Investec’s UK and Channel Islands wealth and investment businesses for £839 million. The transaction did not include Investec Bank Switzerland or Investec International’s wealth business. The combination substantially expanded Rathbones’ scale and was described in the supplied reference material as producing approximately £115 billion in assets under management and administration. The modern group operates principally from London, with Liverpool retaining historic significance, and has offices and activities serving clients in the UK and Channel Islands. In November 2025, Rathbones announced a Dublin office intended in part to improve service for European Union clients. Jonathan Sorrell became chief executive in 2025, being appointed in March and joining the company in July. Rathbones today presents itself as a long-term, personalised wealth and investment manager for private clients, trustees, charities, pension funds and other institutions.
- 2025
Dublin office announced
[1]Rathbones announced plans for an Irish office in Dublin to help serve European Union clients.
- 2023
Investec wealth-business transaction agreed
[1]Rathbones agreed to acquire Investec’s UK and Channel Islands wealth and investment businesses for £839 million.
- 2021
Saunderson House acquisition
[1]Rathbones acquired Saunderson House’s wealth-management business from Epiris for approximately £150 million.
- 2021
Corporate name changes to Rathbones Group
[1]The company changed its name from Rathbone Brothers to Rathbones Group on 1 December 2021.
- 1988
Merger creates Rathbone Brothers plc
[1]Rathbone Brothers merged with Comprehensive Financial Services Ltd to form Rathbone Brothers plc.
- 1912
Formal reorganisation toward financial services
[1]A formal reorganisation accompanied the firm’s transition away from overseas merchant trading and toward fiduciary and investment activities.
- 1889
Sells its last vessel
[1]The firm completed its withdrawal from ship ownership by selling its last vessel.
- 1841
Becomes Liverpool agent for the East India Company
[1]Rathbones became the Liverpool agent for the East India Company during its period of wider international merchant activity.
- 1824
Partnership adopts Rathbone Bros. name
[1]The partnership formally adopted the Rathbone Bros. name.
- 1742
Rathbones business founded in Liverpool
[1]William Rathbone II founded the business as a Liverpool-based timber trader by 1742.
Products and positioning
A UK-focused, relationship-led wealth and investment manager combining discretionary portfolio management with financial planning, tax, trust and fiduciary services.
Investment management
Discretionary investment management
Rathbones manages investment portfolios on a discretionary basis for private investors, families, trustees and other clients. The service is built around personalised mandates, with the manager making portfolio decisions within agreed objectives, risk parameters and time horizons.
Wealth management
Wealth management and financial planning
The group combines investment management with broader wealth-planning advice. Relevant areas include financial planning, tax planning, pension advice and long-term structuring of personal and family wealth.
Fiduciary services
Trust and company administration
Rathbones provides trust and company management services for trustees, families and other structures requiring fiduciary administration alongside investment oversight.
Institutional investment management
Institutional investment services
The business also serves pension funds, charities and other institutional investors. These activities extend Rathbones beyond private-client portfolio management into institutional mandates and related investment advice.
Financial products and banking
Unit trusts and banking services
The group’s stated service range includes unit trusts and banking services, complementing its investment-management, planning and fiduciary capabilities.
Brand decisions
2025
Establish Dublin officeStrategyBackground
Rathbones identified a need for a local presence to help service clients in the European Union.
Action taken
The group announced plans to establish an office in Dublin, Ireland.
Aftermath
The planned office was intended to provide closer contact with EU clients.
2023
Acquire Investec UK and Channel Islands wealth businessesM&ABackground
Rathbones pursued a major scale expansion in wealth and investment management through a transaction with Investec.
Action taken
Rathbones agreed to buy Investec’s wealth and investment businesses in the UK and Channel Islands for £839 million, excluding Investec Bank Switzerland and Investec International’s wealth business.
Aftermath
The combination increased the group’s scale to approximately £115 billion in assets under management and administration according to the supplied reference material.
Acquisition consideration. £839 million (April 2023)
2021
Acquire Saunderson House wealth-management businessM&ABackground
Rathbones sought to expand its wealth-management capabilities and client base through the acquisition of Saunderson House’s business from Epiris.
Action taken
The group acquired the business in October 2021 for approximately £150 million.
Aftermath
The acquisition strengthened Rathbones’ position in personalised wealth management and preceded the group’s corporate name change later that year.
Acquisition consideration. Approximately £150 million (October 2021)
2021
Rebrand from Rathbone Brothers to Rathbones GroupStrategyBackground
The group had expanded beyond its historic corporate identity and was developing a broader wealth-management platform.
Action taken
The company changed its name to Rathbones Group on 1 December 2021.
Aftermath
Rathbones became the principal contemporary group identity.
Recent events
- Unconfirmed
Reported
Rathbones secures MiFID licence from the Central Bank of Ireland[2]
Rathbones has secured a Markets in Financial Instruments Directive (MiFID) licence from the Central Bank of Ireland. Through its Dublin-based European entity Rathbones Ireland, the licence enables Rathbones to serve new and existing clients in Ireland and across the EU. The firm said the licence marks an important step in strengthening its international capabilities and supporting its long-term growth ambitions.
Reported
Rathbones agrees to acquire Saunderson House[3]
Rathbones said it had bought Saunderson House for £150 million. The acquisition remained subject to FCA approval and was expected to complete in the third quarter of 2021.
Reported
Rathbone completes acquisition of Barclays Wealth personal injury and court of protection business[4]
Rathbone Investment Management, a wholly-owned subsidiary of Rathbone Brothers, completed the acquisition of Barclays Wealth’s Personal Injury and Court of Protection business. Clients representing approximately £450 million of funds under management transferred to Rathbones.
Sources4 sources
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