New Zealand-based boutique merchant bank Murray & Co has acquired Queenstown-based private wealth management business Rose Capital Management for undisclosed sum.
Established in 2001, Rose Capital caters to the investment and portfolio management requirements of a group of charitable trusts, wealthy families and individuals throughout New Zealand.
As part of the deal, Rose Capital managing principal, Matthew Rose, will join Murray & Co as a director in the wealth management team and will be based in its Christchurch office.
Murray & Co said that it will retain Rose Capital’s Queenstown office as a platform for further growth in that region and Rose will visit regularly.
Commenting on the acquisition, Rose said: "My decision to join Murray & Co reflects the mutual respect and shared values between Rose Capital and Murray & Co based on a long-standing professional relationship.
"It also reflects my insistence on providing my clients with best practice investment services within New Zealand’s evolving and rigorous regulatory environment."
Justin Murray, managing director of Murray & Co, added: "We are delighted to welcome an investment professional of Rose’s experience and caliber to our firm. Our focus on long-term advisory relationships is well suited to Rose Capital’s clients and we look forward to taking care of their future wealth management requirements."