M&A in the broking sector: Euroz (EZL) buys Blackswan: We like the fact that it has always been profitable, same as us

Livewire Equities

Livewire

M&A in the broking sector: Euroz (EZL) buys Blackswan: We like the fact that it has always been profitable, same as us . . . and when we got into the numbers it was pretty obvious they were a good outfit, Euroz executive chairman Andrew McKenzie said. They're old-fashioned brokers, much like us, focused on clients and quality deals. Mr McKenzie said Blackswan boasted a strong private client and portfolio administration business, with $1.4 billion under advice for high net-worth WA investors. The combined group, to be consolidated into Euroz's offices in the Alluvion building, would generate cost savings but he emphasised both were already lean businesses and the tie-up was more about chasing revenue. Blackswan chairman and co-founder Tim Lyons said the merged group made for a more complete business which would be better placed to take advantage of the inevitable recovery in WA emerging stocks: (VIEW LINK)


1 topic

Livewire Equities
Livewire Equities
Livewire

The Livewire Equities feed brings you a range of insights that relate to Australian equities

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.

Comments

Sign In or Join Free to comment