JBWere enters UBS alliance
JBWere has entered into a strategic alliance with UBS in a move it claims will strengthen its wealth management capabilities.
The announcement comes at the same time as National Australia Bank announced it would exercise its option to acquire the remaining 19.9 per cent of JBWere from Goldman Sachs.
The JBWere announced said the company was embarking on a new strategy of non-exclusive research and distribution arrangements and that UBS was the first of these agreements.
It said the non-exclusive arrangement would allow JBWere's Australian clients to access UBS's pipeline of equity deals and initial public offerings (IPOs) as well as accessing domestic and international investment research, covering more than 3,000 stocks in Australia, New Zealand and internationally.
Outlining the arrangement, JBWere chief executive, Justin Greiner said he believed the alliance would be good for the company's private wealth clients and would allow them to access a large and diverse range of world-class research and products.
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