Bell Financial Group to integrate businesses
Bell Financial Group (BFG) has announced plans to integrate its stockbroker and financial advisory groups, Southern Cross Equities and Bell Potter businesses, into a single brand by 1 July, 2011.
One of the group’s non-executive directors, Brian Wilson, will oversee the integration process, while the founder of Southern Cross Equities, Brent Potts, will remain on the BFG Board as a non-executive director.
The group also announced that Southern Cross executives would take up key management roles alongside Bell Potter division heads.
Executive chairman of BFG Collin Bell added the idea of combining revenues of the two businesses was compelling.
“We believe that this is a 1+1=3 situation in terms of revenue synergies. There is a clear gap in the market for an independent full service Australian stockbroking firm and we intend to fill that gap,” Bell said.
The group announced that Bell Potter and Southern Cross Equities would co-locate as part of the integration process as soon as was feasible.
AUTHOR
Milana Pokrajac
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