18 Jan 2016

JBWere announces strategic alliance with UBS

JBWere announced today it has entered into a new strategic alliance with investment bank UBS, which will strengthen its wealth management capabilities and allow a broader offering to its private wealth clients.

JBWere is embarking on a new strategy of non-exclusive research and distribution arrangements. Today’s announcement with UBS is the first of these agreements.

The non-exclusive arrangement will allow JBWere’s Australian clients to access UBS’s pipeline of equity deals and IPOs as well as accessing domestic and international investment research, covering more than 3,000 stocks in Australia, New Zealand and internationally.

JBWere CEO Justin Greiner said: “The alliance with UBS is fantastic for our private wealth clients and will allow them to access a large and diverse range of world-class research and products.”

“For 175 years, JBWere has helped grow and protect the wealth of our private wealth clients and we have a responsibility to continue to access the best possible research and product offering in an evolving market.  The alliance with UBS will allow us to further fulfil this responsibility”.

Anthony Sweetman, Head of Corporate Client Solutions, UBS Australasia said: “The alliance allows two of the oldest and most prestigious financial services firms in Australia to continue to help their respective clients achieve their goals. The strategic partnership both strengthens our distribution network for equity capital market transactions and offers JBWere access to our leading global investment research.”

National Australia Bank (NAB), the majority shareholder in JBWere, has also announced today that it will exercise its option to acquire the remaining 19.9% share in JBWere from Goldman Sachs, reinforcing NAB’s commitment to the private wealth manager and its clients.

“We are pleased today to also announce that NAB has purchased the remaining share of JBWere from Goldman Sachs.  JBWere plays an important role in our client offering, and this deal cements our commitment to our clients and business,” said NAB Wealth Group Executive Andrew Hagger.

JBWere New Zealand will not be impacted by this change and will continue to work on its own arrangement with Goldman Sachs.

 

About JBWere

JBWere is a leading private wealth manager providing wealth strategy, advice and investments to Australia and New Zealand’s most successful people, companies and for-purpose organisations.  The company has more than 500 people across its nine offices and over $45b in assets under advice.  JBWere is part of the NAB Group.

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