14/10/2008 - 11:34

SBA enters alliance with global broker

14/10/2008 - 11:34

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Perth-based Specialised Broking Associates Pty Ltd will be re-branded after worldwide broker Arthur J. Gallagher & Co agreed to take a stake in the company.

SBA enters alliance with global broker

Perth-based Specialised Broking Associates Pty Ltd will be re-branded after worldwide broker Arthur J. Gallagher & Co agreed to take a stake in the company.

Under the deal Gallagher, will take a "significant minority" interest in the Perth broker which will be known as SBA Gallagher. SBA said the new enterprise will retain an independent presence in the local market.

SBA executive chairman Bill Grierson said the alliance between both companies will bring something different to Perth.

"The unique positioning that SBA Gallagher brings to the market will be 'boutique international'. There really isn't anything of this kind in Perth at present," Mr Grierson said.

"SBA has grown at a rapid pace since 2003 and we view the partnership with Gallagher as our major second stage to further that growth.

"The financial services market is changing globally and we believe smaller firms partnering with major internationals will lead the way as a market trend over the next few years."

SBA's clients include Alcoa, Iluka Resources, Fortescue Metals Group and Clough.

Gallagher's Australian chairman Peter Searson welcomed the alliance with SBA, given the two companies already had strategic alignments in the areas of construction, resources and other industries.

"This is an opportunity for us to promote the Gallagher brand across Australia, through the network and resources of SBA, helping to grow our retail presence and make real in-roads in the local market," he said.

US-based Gallagher celebrated its 80th anniversary last year and conducts business across more than 100 countries.

 

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