Yarra completes acquisition of Nikko AM | Money Management
All investment personnel will remain in place, and Nikko Asset Management will have a 20% stake and board representing in the enlarged group.
Source: moneymanagement.com.au
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Yarra to become one of the largest Aussie fund managers
Dion Hershan, managing director of Yarra and head of Australian equities, would become executive chair and head of equities and the search for a new managing director had commenced. Until then, Garvin Louie would take the role on an interim basis. Nikko AM would become a 20% shareholder in the combined group as a strategic investor, alongside private equity firm TA Associates, and appoint a director to its board while Michael Gordon, non-executive director at Yarra, would join the Tyndall board as chair. Hershan said: “The transaction will enable us to continue strengthening our partnership...
Source: moneymanagement.com.au