22/12/2008 - 11:15

Montagu merges with Patersons Securities

22/12/2008 - 11:15

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Patersons Securities says it has acquired Perth-based Montagu Stockbrokers for an undisclosed sum.

Patersons Securities says it has acquired Perth-based Montagu Stockbrokers for an undisclosed sum.

In a statement today, Patersons said the acquisition is effective immediately and the Montagu team will integrate into Paterson's existing Perth operation and trade under the Paterson name.

Patersons chairman Michael Manford said the firm was delighted to welcome the Montagu team, which includes Michael Atkins, Adam Davey, Kim Thomas, Brian Hockney and Keith Coughlan.

"This is an experienced team with a track record of success in private client dealing," said Mr Manford.

"We also look forward to welcoming Montagu clients to Patersons and offering them our expanded range of services.

"We are two like-minded groups of people and we believe Montagu's clients and advisers will find the transition very rewarding."

Montagu chairman Michael Atkins said the firm was delighted to have joined with Patersons.

"For some time we had been considering the best way to advance the interests of our clients and our people. Patersons is a natural fit for us and we believe our clients will see significant additional benefits in the time ahead," said Mr Atkins.

"In addition, our corporate team has established a successful presence in the emerging resource company market and we look forward to being able to offer an expanded capability in this area."

Last month, Montagu was reportedly in merger talks with DJ Carmichael & Co.

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