Azimut expands in Australia with takeover

AcquisitionItaly-based asset manager Azimut has acquired a financial planning and accounting services firm based in Sydney, Australia. Set up in 2004, Henderson Maxwell employs 12 people and manages 170 million Australian dollars ($128 million) of client funds. The transaction is the latest in a series of deals designed to establish Azimut's business in Australia and follows the acquisition of Dunsford Financial Planning, revealed last month. “We have had an incredible run during 2017 and we believe we will be able to continue to exploit the opportunities offered by the Australian financial practices market for many years to come,” said Sergio Albarelli, chief executive of Azimut Holding. The acquisition was completed by AZ Next Generation Advisory, Azimut's Australia-based subsidiary. ©2017 funds global asia

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