| Industry | Financial services |
|---|---|
| Founded | 1951 |
| Founder | Charles Ord Jack Minnett |
| Headquarters | , Australia |
Key people | Karl Morris (Managing Director) |
| Services | Stockbroking |
| Website | www.ords.com.au |
Ord Minnett is an Australian wealth management company.
History
Ord Minnett was founded in 1951 by Charles Ord and Jack Minnett. [1] In 1969, Bankers Trust and Ord Minnett formed BT-Ord, a merchant bank with Ord Minnett having a 60% shareholding. Ord Minnett sold out to Bankers Trust in 1972. [2]
Westpac purchased a 50% shareholding in July 1984, before exercising an option to take full ownership in April 1987. [3] [4] [5] Westpac sold out in August 1993, with Jardine Fleming and staff each owning 50%. [2] [6] [7] Australian Wealth Management purchased a 70% shareholding in May 2008 with JPMorgan Chase, that had purchased Jardine Fleming, retaining 30%. In September 2019 Ord Minnett was sold in a management buyout. [8] [9] [10]
References
- ^ History & Heritage Ord Minnett
- ^ a b Bain, Jim (2007). A Financial Tale of Two Cities. University of New South Wales Press. ISBN 978-0868409634.
- ^ Westpac launches new service Canberra Times 12 November 1985 page 17
- ^ Business Briefs Canberra Times 2 April 1987 page 13
- ^ Were Climbs Back into Hot Seat Australian Financial Review 12 November 1993
- ^ Ord Minnett sale sparks expansion Canberra Times 3 August 1993 page 11
- ^ JF in Ord Minnett stake South China Morning Post 24 September 1993
- ^ Ord Minnett management take control as IOOF and JP Morgan exit Business News Australia 27 June 2019
- ^ IOOF sells out of Ord Minnett in $115m deal with management Sydney Morning Herald 27 June 2019
- ^ IOOF announces the completion of the sale of Ord Minnett IOOF 24 September 2019
