Powered by
MOMENTUM
MEDIA
Global law firm Ashurst has acted for FinClear Holdings Limited on an agreement to acquire Pershing Securities Australia Pty Ltd from Pershing LLC.
Firm: Ashurst (FinClear Holdings); unknown (Pershing LLC).
Value: Undisclosed.
Area: M&A.
Key players: The legal team advising FinClear was led by Ashurst partner Stuart Dullard and included senior associates Harry Marples, Fran Barber, Jason Maletic and lawyer Suvan Madan.
The team was further assisted by partners Philip Trinca, Rehana Box, Peter Armitage, Jane Harvey, Mark Bradley, Lisa Ritson, Rebecca Cope, Kenneth Tang, Andreas Mauroschat, Jonathan Gordon, senior associates Helen Yu, Jayaki Gunaratnam, Alexandra Nash, Sashini Walpola, Emilie Maddox and lawyers Zach McLoughlin, Josephine Gardiner, Kerry Liang, Jessica White, Phillip Alphonse, Sean McKeon and Lawrence Leung.
Deal significance: As per an Ashurst statement, the transaction “is a key step in FinClear’s plan to enhance its service offering to larger stockbrokers, a key target market within its already diverse client base that includes financial planners, stockbrokers and wealth managers, wealth platforms, FinTechs and large institutional clients”.
The deal is subject to customary conditions and is expected to complete early in the second half of calendar 2021.
Commenting further, lead partner Mr Dullard said: “We are delighted to have advised FinClear on its acquisition of Pershing Australia.
“The integration of Pershing Australia will strengthen the foundation of FinClear’s business and provide the increased scale needed to develop its market-leading trading, execution, clearing and technology platform for future growth.”
