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Forysth Barr does a deal

Tuesday 27th May 2003

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JPMorgan has formed an alliance with New Zealand stockbroking firm Forsyth Barr to provide its institutional clients with enhanced access to primary and secondary stocks in New Zealand.

The alliance will assist Forsyth Barr in building its institutional stockbroking business.

"JPMorgan will continue to have a full service, local investment banking business based in Auckland," said David Hancock, Regional Head of Institutional Equities for JPMorgan.

"This alliance helps us further expand our institutional stockbroking business and provides us with an opportunity to distribute much more Australian dollar product to our New Zealand clients," Forsyth Barr managing director Neil Paviour-Smith says.

"We are pleased to have entered this agreement with one of the world's leading and most respected financial services firms. JPMorgan's global reach and Forsyth Barr's commitment to the local market are complimentary and we look forward to the benefits this can offer to our new and established clients."

JPMorgan will continue to provide New Zealand corporates with global investment banking services through a local team in Auckland.

"There is a strong demand for investment banking services amongst New Zealand corporations, institutions and government and we believe it is important to have a local team on the ground with local market knowledge. The investment banking team, under the leadership of Tony Pigou, will focus on providing corporate advisory services and global capital markets solutions," JPMorgan's head of investment banking, Trevor Loewensohn says.

JPMorgan's New Zealand-based investment banking team has been involved in successfully transacting major cross-border deals and arranging financing for many of New Zealand's largest corporations.

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