RAT: Trimming estimates following regulatory update

Research evidence excerpt

RAT: Trimming estimates following regulatory update

Rathbones Group PLC

Company description

Rathbones Group Plc is a UK-based provider of investment and wealth management services for private investors, charities, and

professional advisers. Headquartered in London, the company was originally established in Liverpool by the Rathbone family

in 1742. Through its subsidiaries, the company provides services including discretionary investment management, unit trusts,

tax planning, trust and company management, financial planning, and banking services. Rathbones listed on the London Stock

Exchange in June 1992 and is currently a constituent of the FTSE 250 Index. The FCA is Rathbones’s lead regulator; however, as

Rathbone Investment Management holds a banking license, the company is also regulated by the PRA. Rathbones employs over

3,600 staff across 23 offices in the UK and Channel Islands, serves c.115k clients, and manages c.£116 billion in FUMA.

Required disclosures

Non-U.S. analyst disclosure

One or more research analysts involved in the preparation of this report (i) may not be registered/qualified as research analysts

with the NYSE and/or FINRA and (ii) may not be associated persons of the RBC Capital Markets, LLC and therefore may not be

subject to FINRA Rule 2241 restrictions on communications with a subject company, public appearances and trading securities

held by a research analyst account.

Conflicts disclosures

The analyst(s) responsible for preparing this research report received compensation that is based upon various factors, including

total revenues of the member companies of RBC Capital Markets and its affiliates, a portion of which are or have been generated

by investment banking activities of the member companies of RBC Capital Markets and its affiliates.