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Murray & Co sells wealth management arm
24 May 2016
Murray & Co sells wealth management arm
Murray & Co has sold its successful wealth management business to First NZ Capital to focus on expanding its investment banking operations.
Managing director Justin Murray said the firm is continuing to grow its investment banking activities throughout New Zealand advising on mergers, acquisitions, divestments, capital raising and financing transactions.
“We are proud of the wealth management business we have built but investment banking continues to be our primary activity.”
At the same time, Justin Murray’s family interests will purchase the Murray & Co shareholdings previously owned by First NZ Capital and interests associated with Humphry Rolleston and Rob Campbell.
Humphry Rolleston, Rob Campbell and Bill Trotter will retire as directors now that the wealth management business has been sold and the new board will comprise executive directors of the firm.
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