Sydney-based Shaw and Partners Financial Services, a fully owned subsidiary of EFG International, has agreed to acquire a 75% stake in Investment Services Group (ISG) for NZ67.5m ($40.8m).

The transaction is subject to regulatory approval.

ISG, an Auckland-based investment firm, manages over NZ7bn ($4.2bn) in assets across its wealth management, funds management, and investment platform divisions.

ISG operates two main offices in Auckland’s CBD and Takapuna, alongside several regional offices across New Zealand’s North and South Islands.

ISG’s diversified model is expected to complement Shaw and Partners’ existing offerings.

The acquisition represents a significant step in Shaw and Partners’ growth strategy, marking its formal entry into the New Zealand market and enhancing its presence across the Trans-Tasman region.

Following the acquisition, ISG’s business will report to Shaw and Partners’ Australian CEO, Earl Evans.

“Shaw and Partners and ISG share a client-first approach, an entrepreneurial mindset, and a clear strategic vision,” the company stated.

EFG International, headquartered in Zurich, is a global private banking group providing private banking and asset management services, with operations in over 40 locations worldwide.

In February this year, EFG announced the acquisition of Swiss private bank Cité Gestion, which specialises in serving ultra-high-net-worth individuals (UHNWIs) from Switzerland, Western Europe, Latin America, and the Middle East.

In April this year, EFG (Middle East) Limited in Dubai (EFG Dubai), part of EFG International, appointed Soha Nashaat as its new executive chair. She works with EFG International’s senior management to align with the group’s strategic goals.