PRESS RELEASE

CRAIGS INVESTMENT PARTNERS AND J.P. MORGAN FORM A STRATEGIC ALLIANCE

 

Embargo: 20 May 2020

J.P. Morgan and Craigs Investment Partners (Craigs) are pleased to announce they have formed a strategic alliance. This will enable Craigs, a leading private wealth manager and investment bank in New Zealand and J.P. Morgan, a leading global financial services firm, to support clients across their equities and corporate advisory businesses.

“After a period of careful and considered due diligence, we are pleased to have formed a strategic alliance with such a large and highly regarded organisation. It is an extremely exciting time for our business, and this opportunity will provide ongoing benefits to all our clients” said Frank Aldridge, Managing Director, Craigs Investment Partners.

This strategic alliance brings together the deep geographical expertise and strong corporate relationships of Craigs in New Zealand with J.P. Morgan’s global corporate advisory and equity capital markets experience. J.P. Morgan is a leader in Mergers and Acquisitions, Equity Capital Markets and Debt Capital Markets, as well in Equity Sales and Sales Trading. Coupling the franchise strength and expertise of J.P. Morgan with Craigs’ leading private wealth and investment banking business in New Zealand, solidifies the alliance as a market-leading offering.

“We are excited to be forming a strategic alliance with Craigs. This reaffirms our commitment to delivering our full range of local and global capabilities to Australasian clients and elevates our offering for New Zealand-based clients,” said Robert Bedwell, Chief Executive Officer, J.P. Morgan Australia and New Zealand.

Craigs will remain a stand-alone business, with Craigs’ staff shareholders retaining 100% ownership. Craigs announced late last year the purchase of Deutsche Bank’s 49.9% equity interest in their business.

While the alliance brings benefits to Craigs’ corporate and private wealth clients - there will be no change to the business structure, the operations or management team leading the firm and service to our clients will remain seamless.

“This is another positive move forward for us. The opportunity to work closely with J.P. Morgan, one of the world’s leading financial services firms, will help us offer an even broader range of financial products and services, and significant investment opportunities to our clients,” said Mr Aldridge.