In addition to two big names in the capital markets community, the deal involved many stakeholders
Simpson Grierson and Dentons New Zealand have confirmed their roles in the sale of wealth management business Hobson Wealth to Forsyth Barr.
According to Simpson Grierson lead partner Michael Pollard, the deal, which involved an undisclosed amount, was “notable for its complexity due to the large number of stakeholders involved, and is of significant interest given the prominent place that these businesses have in our broader capital markets community”. The acquisition will expand Forsyth Barr’s financial adviser network; Dentons lead partner Wook Jin Lee added that the acquisition “grew Forsyth Barr to a firm that manages and advises on client assets of more than $30bn”.
Relevant approvals were obtained, and the move was unanimously passed by Hobson Wealth shareholders. The deal closed on 11 December 2023.
Pollard worked alongside senior associate Courtney Mearns and solicitors George Sussock and Zoe Drake from the corporate team. Meanwhile, Lee received support from senior associates Joy Wang and Keegan Toft as well as solicitor Faye McIntosh.
The Dentons team worked with barrister Nick Hegan.
