Ord Minnett Explained

Ord Minnett
Foundation:	1951
Founder:	Charles Ord Jack Minnett
Location City:	Sydney
Location Country:	Australia
Key People:	Karl Morris (Managing Director)
Services:	Stockbroking
Homepage:	www.ords.com.au

Ord Minnett is an Australian wealth management company.

History

Ord Minnett was founded in 1951 by Charles Ord and Jack Minnett.^[1] In 1969, Bankers Trust and Ord Minnett formed BT-Ord, a merchant bank with Ord Minnett having a 60% shareholding. Ord Minnett sold out to Bankers Trust in 1972.^[2]

Westpac purchased a 50% shareholding in July 1984, before exercising an option to take full ownership in April 1987.^{[3] [4] [5]} Westpac sold out in August 1993, with Jardine Fleming and staff each owning 50%.^{[2] [6] [7]} Australian Wealth Management purchased a 70% shareholding in May 2008 with JPMorgan Chase, that had purchased Jardine Fleming, retaining 30%. In September 2019 Ord Minnett was sold in a management buyout.^{[8] [9] [10]}

Notes and References

1. https://ords.com.au/history-ord-minnett-ords/ History & Heritage
2. Book: Bain, Jim. A Financial Tale of Two Cities. 2007. University of New South Wales Press. 978-0868409634.
3. https://trove.nla.gov.au/newspaper/article/127536999 Westpac launches new service
4. https://trove.nla.gov.au/newspaper/article/118182671 Business Briefs
5. https://www.afr.com/companies/were-climbs-back-into-the-box-seat-19931112-kaqhb Were Climbs Back into Hot Seat
6. https://trove.nla.gov.au/newspaper/article/127223688 Ord Minnett sale sparks expansion
7. https://web.archive.org/web/20210906205240/https://www.scmp.com/article/45205/jf-ord-minnett-stake JF in Ord Minnett stake
8. https://www.businessnewsaustralia.com/articles/ord-minnett-management-take-control-as-ioof-and-jp-morgan-exit.html Ord Minnett management take control as IOOF and JP Morgan exit
9. https://www.smh.com.au/business/markets/ioof-sells-out-of-ord-minnett-in-115m-deal-with-management-group-20190627-p521ye.html IOOF sells out of Ord Minnett in $115m deal with management
10. https://web.archive.org/web/20210906204537/https://microsite.ioof.com.au/__data/assets/pdf_file/0008/372797/ord-minnett-1975674.pdf IOOF announces the completion of the sale of Ord Minnett