Proactive Investors - Run By Investors For Investors

Perth-based DJ Carmichael being acquired by wealth manager Shaw and Partners

Shaw and Partners is set to expand its WA footprint through the acquisition and committing to 600 square metres of premier real estate.
Acquisition signpost
The acquisition is expected to close by the end of August

Perth-based financial advisory and planning firm DJ Carmichael is being acquired by one of Australia’s pre-eminent investment and wealth management firms Shaw and Partners.

The acquisition will provide Shaw and Partners with the opportunity to continue to scale its national footprint by further expanding its existing Perth business.

To be rebranded as Shaw and Partners

This transaction is expected to close by the end of August 2019, at which time the DJ Carmichael business will be completely rebranded to Shaw and Partners.

DJ Carmichael has been in operation for more than 120 years and has approximately $650 million in funds under advice.

As part of the acquisition, DJ Carmichael CEO Davide Bosio will take on the role of Western Australia state manager and director of corporate finance under the Shaw and Partners brand.

Bosio said: “We are very much looking forward to becoming a part of Shaw and Partners’ formidable growth story.

“This deal is fantastic for our clients and our staff as it gives us greater distribution and research nationally.

“We also have an ability to offer one of the strongest wealth management platforms in Australia at a time when the largest financial services firms are turning their backs on clients and many skilled advisers who have provided solid advice over the years.

“We are incredibly proud of this next stage of our development and evolution. The combination of our firms simply makes sense and I look forward to leading the team through this exciting period.”

Committed to new office space

Shaw and Partners is in the final stages of signing a new lease in premium office space, which will service the existing Western Australia Shaw and Partners office and clients along with new DJ Carmichael clients, advisers and staff.

“Obvious growth area”

Shaw and Partners co-CEO Earl Evans said: “The Western seaboard is an obvious growth area for us.

“Securing critical mass in Western Australia will allow us to accelerate our presence, broaden our reach and allow more clients to access Shaw and Partners’ investment capabilities and intellectual capital.

“We are eager to integrate the DJ Carmichael team into our existing Perth infrastructure. We have had an office in Perth for 6-plus years and it’s now timely that we focus on expanding it by blending the two operations and adding a local Research and Corporate Advisory capability into the business.”

“Deep expertise in major markets”

Co-CEO Allan Zion said: “Our business continues to grow and evolve due to our agile approach, ability to adapt to changing market conditions and our deep expertise in major markets.

“We are looking forward to continuing to serve our Western Australia based clients and to both broaden and enhance the quality of the DJ Carmichael offering.”

The acquisition follows Shaw and Partners’ recent strategic partnership with Swiss Private Bank, EFG International, which resulted in EFG acquiring 51% of the issued shares in Shaw and Partners for A$61.2 million.

View full . profile View Profile

Proactive Investors Australia Timeline

December 13 2016

Related Articles

Augmented Reality on phone
March 21 2019
The firm currently has around nine companies in its portfolio that are either direct investments or through its sub-fund, Suir Valley Ventures, in which it holds a 22% stake
May 22 2019
Here we take a closer look at Bloomsbury Publishing PLC (LON:BMY)
July 05 2019
With over 1.6 billion people globally learning the language, Lingo has developed a SaaS platform that seamlessly blends education and technology

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use