Barrenjoey, the Australian investment bank backed by Barclays, is expanding its operations into New Zealand with plans to seek membership on the New Zealand Exchange (NZX).
The move marks a significant step in the firm's regional growth strategy, positioning it to capture a larger share of the trans-Tasman wealth management and advisory market.
Chief Executive Brian Benari, who is set to receive an annual remuneration of $1.
The expansion comes shortly after the completion of Barrenjoey's merger with listed asset manager Magellan Financial Group.
The $1.6 billion transaction consolidated Barrenjoey's position as a leading independent investment bank in Australia, with founders Matthew Grounds and Guy Fowler each holding stakes valued at approximately $218 million.
Chief Executive Brian Benari, who is set to receive an annual remuneration of $1.5 million, will oversee the integration of the new New Zealand operations.
Seeking NZX membership will allow Barrenjoey to directly participate in the local capital markets, enhancing its ability to advise on mergers and acquisitions, capital raises, and other corporate finance transactions for New Zealand-based clients.