Ord Minnett is an Australian wealth management company.

History

Ord Minnett was founded in 1951 by Charles Ord and Jack Minnett. In 1969,

Bankers Trust Bankers Trust was a historic American banking organization. The bank merged with Alex. Brown & Sons in 1997 before being acquired by Deutsche Bank in 1999. Deutsche Bank sold the Trust and Custody division of Bankers Trust to State Street Corpor ...

and Ord Minnett formed BT-Ord, a

merchant bank A merchant bank is historically a bank dealing in commercial loans and investment. In modern British usage it is the same as an investment bank. Merchant banks were the first modern banks and evolved from medieval merchants who traded in commodi ...

with Ord Minnett having a 60% shareholding. Ord Minnett sold out to Bankers Trust in 1972.

Westpac Westpac Banking Corporation, known simply as Westpac, is an Australian multinational banking and financial services company headquartered at Westpac Place in Sydney, New South Wales. Established in 1817 as the Bank of New South Wales, it ...

purchased a 50% shareholding in July 1984, before exercising an option to take full ownership in April 1987. Westpac sold out in August 1993, with

Jardine Fleming Jardine Fleming was a Hong Kong–based investment bank founded in 1970 as a joint venture between Jardine Matheson and Robert Fleming & Co. It was acquired by JP Morgan Chase JPMorgan Chase & Co. is an American multinational investment bank ...

and staff each owning 50%. Australian Wealth Management purchased a 70% shareholding in May 2008 with

JPMorgan Chase JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of 2022, JPMorgan Chase is the largest bank in the United States, the ...

, that had purchased Jardine Fleming, retaining 30%. In September 2019 Ord Minnett was sold in a

management buyout A management buyout (MBO) is a form of acquisition in which a company's existing managers acquire a large part, or all, of the company, whether from a parent company or individual. Management-, and/or leveraged buyout became noted phenomena of 1 ...

.IOOF announces the completion of the sale of Ord Minnett

IOOF The Independent Order of Odd Fellows (IOOF) is a non-political and non-sectarian international fraternal order of Odd Fellowship. It was founded in 1819 by Thomas Wildey in Baltimore, Maryland, United States. Evolving from the Odd Fellows, Or ...

24 September 2019

References

{{Westpac Companies based in Sydney Financial services companies established in 1951 JPMorgan Chase Westpac 1951 establishments in Australia