Tolhurst acquisition extends investment footprint
Financial services and stockbroking group Tolhurst has announced it is moving to acquire independent investment bank and advisory group InterFinancial Holdings.
Tolhurst informed the Australian Stock Exchange today that the proposed acquisition represented a move to accelerate the growth of its investment banking and corporate advisory division and expand its geographical presence on the east coast.
Tolhurst executive chairman David Browne said the acquisition would build on the depth, range and quality of expertise in Tolhurst, making it a leading independent investment bank.
He said Tolhurst intended to purchase 100 per cent of InterFinancial with cash and scrip, with the Tolhurst board extending an invitation to the non-executive chairman of InterFinancial, Greg Bundy, to join the Tolhurst Board.
Recommended for you
ASIC has said it is exploring whether there are concerns regarding Macquarie and Equity Trustees for hosting platforms where investors rolled over their superannuation into the Shield Master Fund.
Questions have been raised regarding the viability of the current Australian Financial Services licensing regime, and the role that licensees have to play in monitoring and supporting the profession.
Almost 30 staff at AMP could be affected by changes to its marketing and communications team, Money Management understands, as it makes two senior hires.
Superannuation fund Cbus has announced it will offer a financial advice offering for its members and their partners called Advice Essentials Plus.