A consortium consisting of Wilson HTM staff, Craigs Investment Partners and Deutsche Bank has secured shareholder approval to acquire the private wealth and corporate advisory business from its listed parent Wilson Investment Group.
Under the new ownership structure, Wilson HTM will continue to be led by current chief executive Brad Gale, said a joint statement from Wilson HTM, Craigs Investment Partners and Deutsche Bank.
Mr Gale will be overseen by a board chaired by Craigs Investment Partners managing director Frank Aldridge.
The board will comprise Wilson HTM employees as well as representatives from Craigs Investment Partners and Deutsche Bank.
"The new independent Wilson HTM, in partnership with these leading financial services firms, provides a structure that allows us to achieve employee alignment while also harnessing the expertise and infrastructure of two strong business partners," Mr Gale said.
"Commitment to building long-term trusted advisory relationships with our private wealth and corporate clients and enhancing our coverage of Australian small- to mid-cap companies for our institutional clients remains key.
"Our clients will continue to benefit from local and global research and the breadth of investment opportunities that both partners provide," Mr Gale said.
Deutsche Bank chief executive for Australia and New Zealand, James McMurdo, added: "Deutsche Bank has had a strong 10-year relationship with Wilson Investment Group and we are looking forward to the next phase by supporting the growth of the new Wilson HTM."
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