EFG's Shaw and Partners to acquire a 75% ownership in New Zealand's ISG company.
## Article: Shaw and Partners Acquire Majority Stake in New Zealand's Investment Services Group
Sydney-based Shaw and Partners Financial Services, a subsidiary of the global private banking group EFG International, has agreed to acquire a 75% stake in New Zealand's Investment Services Group (ISG) for NZD 67.5 million. The transaction, subject to regulatory approval, is expected to settle on July 1, 2025.
ISG, an Auckland-based investment firm, manages over NZD 7 billion in assets. The company operates two main offices in Auckland's CBD and Takapuna, and several regional offices across New Zealand's North and South Islands. ISG owns several prominent wealth management brands, including Devon Funds, JMI Wealth, Select Wealth, Clarity Funds, and TAHITO.
The acquisition marks Shaw and Partners' formal entry into the New Zealand market. For Shaw and Partners, this move is part of EFG International’s broader growth strategy, leveraging Shaw’s expertise to consolidate its presence in Australia-New Zealand while drawing on EFG’s global private banking capabilities.
Current key shareholders, including ISG chair Paul Glass (owner of nearly 48%), are selling 75% of their holdings. Notably, JMI Wealth will rebrand under Shaw and Partners, while the other ISG brands will continue under their existing names. The long-term commitment from ISG’s management team and key shareholders signals confidence in the strategic alignment and future opportunities.
The acquisition represents a significant step in Shaw and Partners' growth strategy. With over AUD 35 billion in assets under advice in Australia, the acquisition of ISG will support ISG's ambition to accelerate growth and strengthen its client offering. The retention of current senior executives ensures continuity in leadership and client relationships.
EFG International, headquartered in Zurich, continues to pursue selective acquisitions that align with its global private banking strategy. The ISG acquisition is consistent with EFG’s focus on expanding in key wealth management markets and leveraging local expertise for cross-border growth. This transaction enhances EFG’s footprint in Australasia and reinforces its commitment to high-net-worth and mass affluent client segments.
A strategic review with external adviser Murray & Co resulted in the Shaw purchase. The deal is positioned as the outcome of a deliberate search for a like-minded partner focused on long-term growth and client service. The combined entity aims to deliver enhanced wealth management solutions, leveraging Shaw’s investment advice capabilities and ISG’s local market expertise.
| Aspect | Details | |----------------------------|----------------------------------------------------| | Acquirer | Shaw and Partners (EFG International) | | Target | Investment Services Group (ISG), New Zealand | | Stake Acquired | 75% | | Purchase Price | NZD 67.5 million | | Expected Settlement Date | July 1, 2025 | | Key ISG Brands | Devon Funds, JMI Wealth, Select Wealth, Clarity, TAHITO | | Regulatory Approval | Switzerland’s FINMA | | Rebranding | JMI Wealth → Shaw and Partners (others unchanged) | | Management | Senior executives retained post-acquisition | | Strategic Rationale | Growth, scale, and enhanced client offering |
In February this year, EFG announced the acquisition of Swiss private bank Cité Gestion, specialising in serving ultra-high-net-worth individuals (UHNWIs) from various regions. Following the acquisition, ISG's business will report to Shaw and Partners' Australian CEO, Earl Evans. The acquisition is expected to complement Shaw and Partners' existing offerings and enhance Shaw and Partners' presence across the Trans-Tasman region.
- Shaw and Partners, a subsidiary of the global private banking group EFG International, aims to utilize AI and finance to deliver enhanced wealth management solutions by combining their investment advice capabilities with ISG's local market expertise.
- The acquisition of New Zealand's Investment Services Group (ISG) by Shaw and Partners is an essential move for EFG International, as it focuses on expanding in key wealth management markets and serving high-net-worth clients.
- Shaw and Partners' acquisition of ISG will enable them to further engage in investing and business activities, supported by over AUD 35 billion in assets under advice in Australia, and over NZD 7 billion in assets managed by ISG.
