Arbuthnot Latham, the private banking business of Arbuthnot Banking Group, has entered into an agreement with Premier Pension Services, a division of Jardine Lloyd Thompson Benefit Solutions. Under the terms of the agreement Premier Pension Services will acquire Arbuthnot Latham's pension administration business, Arbuthnot Trustees.

The portfolio consists of self invested personal pension and small self administered scheme Arbuthnot clients.

Arbuthnot Latham will continue to provide banking and investment management services to these clients, with plans to promote these services to other premier pension services clients as well.

Mike Bussey, CEO of Arbuthnot Latham, said: Premier Pension Services’ level of client service made them the obvious candidate with whom we could do a deal of this sort and the Premier Pension Services and Arbuthnot Latham cultures are a good fit. This deal presents both companies with a number of opportunities and we look forward to working with Premier Pension Services.

Nigel Manley, head of self invested pensions at Premier Pension Services, added: We will be meeting supporting advisers and key clients as soon as possible to explain the rationale for the business transfer and outline the strengths that Premier Pension Services can bring to the portfolio. We are looking to work long term with Arbuthnot Latham on various products and services where our combined expertise and markets will complement each other.