Quilter Cheviot Europe (QCE), the Irish subsidiary of UK wealth manager Quilter Cheviot, has acquired Dublin-based investment firm GillenMarkets.
GillenMarkets was founded by Rory Gillen and advises on over £540m of assets.
Under the terms of the deal, Mr Gillen, five investment advisers, its head of research and its support team will join QCE.
The cost of the deal has not been disclosed.
Quilter says the deal expands QCE’s presence in Ireland which includes investment management and a Financial Planning offering for clients in Ireland and throughout Europe.
QCE’s office was established in 2003 before becoming authorised as Quilter Cheviot Europe in 2019 to serve clients across the European Union. QCE’s business has grown since 2022, doubling its AUM.
Andrew Fahy, chief executive of Quilter Cheviot Europe, said: “Rory and the team have grown this business over several years and are hugely respected across the Irish business and wealth management community.
“We are excited to see what our combined team can achieve. QCE has grown substantially over the past three years, and we want to continue to build on our scale and reach. Our ambition is to be the wealth manager of choice in Ireland and this exciting acquisition supports us on that journey.”
Rory Gillen, founder of GillenMarkets, said: “After more than a decade and a half, this is a huge milestone for the GillenMarkets team, and we are looking forward to being part of Quilter Cheviot. QCE has built an excellent and respected reputation in the Irish market, and we are excited by the opportunity to combine with such a prestigious wealth manager.
“With similar investment and client-focused philosophies, clients will see a huge benefit from us joining a business with enhanced investment resources and capabilities.”
In a separate deal, parent Quilter has launched in the UK a smoothed funds range in partnership with Standard Life. The Quilter Smoothed Funds aim to meet a need for stability and confidence among investors approaching or already in retirement, Quilter said.
The funds will be available through the Collective Retirement Account (CRA) on Quilter’s platform with Quilter managing the underlying investments while Standard Life operates the funds and applies the smoothing methodology.
Each fund invests in a mix of assets, including equities, bonds, alternatives, and money market instruments such as cash, typically through third-party funds. The funds are actively managed to maintain a defined level of investment risk and are priced at 0.99%. A unique feature of these funds is the regular withdrawal allowance which allows customers to withdraw up to 7.5% each year without any downward price adjustment.
Quilter plc oversees £134.8 billion in customer investments (as at 30 September 2025) and has adviser and customer arms offering financial advice, investment platforms, multi-asset investment solutions and discretionary fund management. The business is comprised of two brands: Quilter and Quilter Cheviot. Quilter encompasses the financial advice network and national arm, Quilter's investment platform and multi-asset solutions along with Quilter Invest, the digital savings and investment app. Quilter Cheviot is a discretionary fund management and Financial Planning business.