Jarden raids UBS, Goldman for Australian business

Jarden today announced the hiring of four executives. Photo / File

Investment and advisory firm Jarden is establishing an Australian business as part of its ongoing expansion strategy.

The firm today announced the hiring of four executives – three from UBS and one from Goldman Sachs – to start the Australian venture. Robbie Vanderzeil, formerly investment banking chair at UBS, will run the Australian business.

"With Australia and New Zealand's capital markets becoming increasingly synchronised, Jarden has for some time been looking at growth opportunities in the Australian market," group chief executive James Lee said in a statement.

"We've moved now to take advantage of changes in the industry to enable us to establish a position of strength in Australia's capital markets.

"This move also comes at a time when there is potential for our businesses and our economies to work even more closely together. Jarden has a 30-year strategic alliance with Credit Suisse and our two companies will continue to work collaboratively in the best interests of clients."

Jarden, New Zealand's biggest broker, is half-way through a 10-year expansion plan to broaden its reach in investment banking, capital solutions, wealth management and direct broking.

It changed its name from First NZ Capital a year ago, having acquired the Direct Broking platform and OMF derivatives the year before. In 2017 it took a half-stake in Pearlfisher Capital and launched the Principal Investments fund for private investors.

Executive chair Bill Trotter said the firm throughout its 60-year history had forged close relationships in Australia's financial and business community. The next phase of its strategy there was exciting, he said.

Joining Vanderzeil in Jarden's Australian business are: Sarah Rennie, formerly head of equity capital markets at Goldman Sachs and currently a member of the Australian Takeovers Panel; Dane FitzGibbon, formerly co-head of capital markets for UBS Australia; and John Spencer, previously head of equity capital syndication at UBS.

The four will take up their roles during 2020.