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.
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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."
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By GlobalDataJustin 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."
