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BBY Acquires the Private Client Adviser Network of StoneBridge Group

StoneBridge Adviser teams will join BBY in Sydney and Melbourne, with the acquisition also signalling BBY’s entry into the Perth, Adelaide and Gold Coast markets.

BBY has announced it has signed a Sale and Purchase Agreement with the StoneBridge Group to acquire the StoneBridge Private Client Adviser network, staff and product platforms.

Australian-owned BBY has previously built market share on the strength of its corporate, research and institutional businesses, so the acquisition is an important strategic development for BBY and signals the creation of a significant new player in the Australian private client market. The acquisition also adds a substantial distribution capacity for BBY’s expanding equity capital markets businesses.

BBY will be undertaking a Transition Phase with StoneBridge, whereupon final Agreements will come into effect. It is expected that StoneBridge teams will join BBY in late July, 2011.

Click here for the Media Release.