Australia’s Evans & Ptnrs, Dixon Advisory merging to form ‘global-facing’ biz
Australia stockbrokers and private wealth managers Evans & Partners is to merge with Dixon Advisory, also based in Australia, to form a new entity that will be known as Evans Dixon, the two companies have announced.
The terms of the deal, which is expected to conclude by the end of November, weren’t disclosed.
In a statement the companies stressed that key business units within their companies would retain their their identities and brandings, including Evans & Partners, Dixon Advisory and Walsh & Co.
Evans & Partners executive chairman David Evans said the merger would see “two powerful wealth management brands working together” to deliver “Australian-headquartered but global-facing, innovative and client-focused advisory services”.
When the merger is completed, the combined entity will have offices in Melbourne, Sydney, Canberra and Brisbane, Australia, as well as New York, NY, with more than 600 staff looking after more than 8,000 clients and representing more than A$20bn (US$15.3bn, £11.8bn) in assets under management, the companies said in their statement.
Dixon Advisory USA chief executive, Alan Dixon, said the merger would result in “an expanded funds management operation, and a consolidation of the presence of our brands in Australia and also in the US.”
The merger is also expecting to create “scale” by consolidating market positions and investment in respective institutional and capital markets services, the statement said.