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Paterson expands

PATERSON Ord Minnett will have its name on offices in four capital cities and five regional centres following a deal to acquire the assets and stockbroking business of Terrain Securities.

The purchase will double the size of the firm in Perth by early next month, making it the largest local broking operator in terms of head count. By mid-year, Paterson’s expects to have 60 brokers in Perth, 35 in Melbourne and almost 20 in Sydney. Paterson’s has been in Melbourne since last year, but will now add Sydney, Gosford, Adelaide and Mornington to its interstate list. In regional WA, the firm has offices in Bunbury, Busselton and Albany.

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