Ord Minnett
IndustryFinancial services
Founded1951
FounderCharles Ord
Jack Minnett
Headquarters
Sydney
,
Australia
Key people
Karl Morris (Managing Director)
ServicesStockbroking
Websitewww.ords.com.au

Ord Minnett is an Australian wealth management company.

History

Ord Minnett was founded in 1951 by Charles Ord and Jack Minnett.[1] In 1969, Bankers Trust and Ord Minnett formed BT-Ord, a merchant bank with Ord Minnett having a 60% shareholding. Ord Minnett sold out to Bankers Trust in 1972.[2]

Westpac purchased a 50% shareholding in July 1984, before exercising an option to take full ownership in April 1987.[3][4][5] Westpac sold out in August 1993, with Jardine Fleming and staff each owning 50%.[2][6][7] Australian Wealth Management purchased a 70% shareholding in May 2008 with JPMorgan Chase, that had purchased Jardine Fleming, retaining 30%. In September 2019 Ord Minnett was sold in a management buyout.[8][9][10]

References

  1. ↑ History & Heritage Ord Minnett
  2. 1 2 Bain, Jim (2007). A Financial Tale of Two Cities. University of New South Wales Press. ISBN 978-0868409634.
  3. ↑ Westpac launches new service Canberra Times 12 November 1985 page 17
  4. ↑ Business Briefs Canberra Times 2 April 1987 page 13
  5. ↑ Were Climbs Back into Hot Seat Australian Financial Review 12 November 1993
  6. ↑ Ord Minnett sale sparks expansion Canberra Times 3 August 1993 page 11
  7. ↑ JF in Ord Minnett stake South China Morning Post 24 September 1993
  8. ↑ Ord Minnett management take control as IOOF and JP Morgan exit Business News Australia 27 June 2019
  9. ↑ IOOF sells out of Ord Minnett in $115m deal with management Sydney Morning Herald 27 June 2019
  10. ↑ IOOF announces the completion of the sale of Ord Minnett IOOF 24 September 2019
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