Aussies take slice of Edge
BBY, Australia’s largest non-bank owned full service stockbroker, has taken a controlling shareholding in Edge Capital Markets, a private broking firm specialising in the futures and FX markets.
Monday, May 13th 2013, 3:16PM
The acquisition will allow the firm to expand its equities research and advisory services, and develop a stronger investment banking profile.
BBY executive chairman Glenn Rosewall says: “New Zealand is a logical next step for BBY as the sale of state assets and the growth in KiwiSaver will see increased public interest, depth and activity on the NZX.”
The existing NZ principals and management will retain a significant shareholding in the new operation, which will be renamed BBY (NZ) Limited, and operate as a subsidiary of BBY
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