LONDON - Morgan Stanley Dean Witter & Co. on Thursday said it has agreed to acquire Quilter Holdings Ltd., a British private asset management company, for $254.5 million.

Quilter is currently majority owned by insurance company CGNU. The company, which manages $7.2 billion of assets, provides separate account management to individuals, pensions, and trusts. The deal is expected to closed during the first quarter.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.