Shaw and Partners acquires Perth-based DJ Carmichael

Shaw and Partners has acquired Perth-based financial advisory and planning firm DJ Carmichael, which has close to A$650m funds under its advice.
The acquisition comes off the back of Swiss private bank EFG International buying Shaw and Partners in March, having gained 51% of its issued shares for A$61.2 million.
Under the new sale, DJ Carmichael will be rebranded to Shaw and Partners and its current chief executive, Davide Bosio, will take on the role of Western Australia state manager and director of corporate finance. DJ Carmichael has operated in Perth for more than 120 years.
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"
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."
Shaw and Partners also confirmed that it is in the final stages of signing a new lease for 600 square metres of office space, where staff from both its existing WA arm will work alongside incoming advisers and other employees.
The new office will also have an added local research and corporate advisory capacity.
Shaw and Partners said it had approximately A$17bn of assets under advice.
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