Investec yesterday confirmed that the proposed merger of Rathbones and its wealth and investment arm had secured regulatory approval. The financial services firm said it expects the deal to be completed on 21 September provided the City regulatory and the London Stock Exchange agree to admit the shares of the newly combined entity to the premium listing segment of the stock exchange. The two firms announced the £839m tie-up in April. The deal will create an "enlarged Rathbones Group" with £100bn in assets under management, making it one of the UK's top money managers.

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