Sharechat Logo

McDouall Stuart acquires Wellington broker

Wednesday 27th February 2008

Text too small?
McDouall Stuart has agreed to acquire the Wellington NZX sharebroking firm of Waddell Johnston McCarthy (WJM).

McDouall Stuart managing director Andrew McDouall said that Waddell Johnston McCarthy is widely recognised for its systems and global dealing capability.

Waddell Johnson McCarthy, headed by Ian Waddell, was founded in 2003 and has established a very successful private and institutional client base.

McDouall says "there is a good fit and considerable synergies between the firms." Waddell has been invited to become a director of McDouall Stuart.

Following the acquisition, McDouall Stuart Group's two NZX participants (being McDouall Stuart Securities and Waddell Johnston McCarthy) will be working toward legal amalgamation as soon as is practical.

McDouall Stuart previously acquired the Hawkes Bay NZX firm L R Singleton.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report