Our ownership structure is changing, providing new opportunities for growth.
On June 27, an ASX announcement detailed IOOF’s planned divestment of its 70 per cent shareholding in Ord Minnett to a consortium of Australian private investors. The consortium will also acquire J.P. Morgan’s 30 per cent stake, enabling it to take full ownership of the Ord Minnett business.
The domestic consortium is being led by Karl Morris, Ord Minnett Executive Chairman, who committed to achieving the best outcome for staff, clients and the Ord Minnett business. Over the coming months, the consortium intends to enhance the investor pool with parties aligned with our business values and desire for future growth, including staff participation.
Ord Minnett’s longstanding arrangements with J.P. Morgan to access research and Australian capital raisings in the form of IPOs, placements and other corporate originations will remain in place to ensure Ord Minnett clients and key business areas maintain a competitive advantage.