Jarden Group
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 PWC Tower, Auckland.jpgJarden Logo | |
 Headquarters at Commercial Bay (skyscraper) | |
| Private company | |
| ISIN | 🆔 |
| Industry | Financial services |
| Founded 📆 | 1961 |
| Founder 👔 | Ron Jarden |
| Headquarters 🏙️ | , Commercial Bay (skyscraper), Auckland |
Area served 🗺️ | |
Key people | Fraser Whineray (Executive chairman) |
| Products 📟 | Investment banking Securities brokerage Securities research |
| Revenue🤑 |  NZ$306M (2024) |
| NZ$84M (2024) | |
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Jarden (formerly FNZC, or First New Zealand Capital) is an Australasian investment banking, wealth management and financial services firm based in New Zealand.
Jarden is headquartered in Auckland and operates regional offices across New Zealand, with a growing investment banking presence in Sydney and Melbourne.[1]
History[edit]
Jarden was founded in 1961 by Ron Jarden as R.A. Jarden & Company.[1]
In the 1980s, as Jarden Morgan, the firm expanded into fixed income sales and trading, corporate finance, and research activities. In 1990, Credit Suisse First Boston (CSFB) acquired these activities. In 1995, local management bought a 75% stake, with CS First Boston retaining the remaining 25%, leading to the firm being renamed First New Zealand Capital (FNZC). In 1998, Credit Suisse First Boston moved back to full ownership as part of a global repositioning of the CSFB Group.[2]
In 2002, Credit Suisse First Boston sold its remaining New Zealand business to local senior management, led by Chief Executive Bill Trotter, forming an independent entity while maintaining an alliance with CSFB.[3]
In March 2019, FNZC rebranded to Jarden to honour its founder, Ron Jarden.[4]
In Feb 2022, Jarden signalled interest towards an acquisition of Kiwi Wealth, a default provider for the KiwiSaver saving scheme owned by state-owned Kiwi Group Holdings.[5] Kiwi Wealth was eventually sold to Fisher Funds for $310 million in August 2022.[6]
In March 2023, CEO James Lee stepped down after 6 years in the role. In his place, Jarden made notable changes in its leadership structure, introducing Aidan Allen and Sarah Rennie as co-CEOs of investment bank arm and Malcom Jackson as CEO of Jarden Wealth and Asset management.[7]
In December 2023, Jarden restructured its wealth management division, forming FirstCape in partnership with BNZ, JBWere, and Harbour Asset Management,[8] creating a firm with $44 billion in managed funds.[9][10]
According to the Australian Financial Review, for FY24, Jarden Group recorded an NZ$84m profit on revenues of NZ$306m.[11]
In June 2024, Fraser Whineray, former chief executive of Mercury and chief operating officer of Fonterra, took over as executive chair of Jarden Group board, succeeding Bill Trotter, who stepped aside after 22 years in the role.[12][13]
Australian expansion[edit]
In May, 2020, Jarden announced its expansion into the Australian market by appointing four leading corporate finance and markets specialists to spearhead Jarden Australia's growth. The appointments included Robbie Vanderzeil, Sarah Rennie, Dane FitzGibbon, and John Spencer, who were recruited from top firms UBS and Goldman Sachs.[14][15]
According to the Australian Financial Review, as of April 2024 Jarden's Australian business turned its first profit of A$18.4m.[11]
References[edit]
- ↑ 1.0 1.1 "About Jarden » Jarden". www.jarden.co.nz. Retrieved 27 September 2024.
- ↑ "CSFB latest to weigh anchor - Business News". NZ Herald. 2024-10-06. Retrieved 2024-10-06.
- ↑ "Big brother helps First NZ Capital to top in M&A - sharechat.co.nz". www.sharechat.co.nz. Retrieved 2024-10-06.
- ↑ "FNZC no longer – Good Returns". www.goodreturns.co.nz. Retrieved 27 September 2024.
- ↑ "Kiwibank review: Jarden makes move for Kiwi Wealth". NZ Herald. 27 September 2024. Retrieved 27 September 2024.
- ↑ "Fisher Funds buys Kiwi Wealth for $310m". RNZ. 15 August 2022. Retrieved 27 September 2024.
- ↑ "James Lee leaving investment firm Jarden". NZ Herald. 27 September 2024. Retrieved 27 September 2024.
- ↑ https://www.harbourasset.co.nz/
- ↑ "FirstCape: New investment entity will manage $44b worth of funds". RNZ. 14 December 2023. Retrieved 22 September 2024.
- ↑ "Jarden, NAB form FirstCape including Harbour – Good Returns". www.goodreturns.co.nz. Retrieved 27 September 2024.
- ↑ 11.0 11.1 "Jarden's local investment bank turns profit after heavy cost cuts". Australian Financial Review. 16 April 2024. Retrieved 22 September 2024.
- ↑ "Jarden's Bill Trotter steps aside, another Whineray steps in". NZ Herald. 22 September 2024. Retrieved 22 September 2024.
- ↑ "Jarden appoints Fraser Whineray as chair". NBR | The Authority since 1970. 19 June 2024. Retrieved 27 September 2024.
- ↑ "Jarden Announces Australian Expansion & Key Appointments To Drive Growth » Jarden". www.jardengroup.com.au. Retrieved 2024-10-06.
- ↑ Evans, Gavin (2024-10-06). "Jarden raids UBS, Goldman for Australian business". NZ Herald. Retrieved 2024-10-06.
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