The Australian unit of accounting, asset management and strategy consultancy Deloitte, has reported the acquisition of a wealth and investment management company.
Deloitte in Australia has announced that Morse Consulting will join its Australian business. The Morse Consulting team will join Deloitte’s Investment and Wealth Advisory team in Sydney and Melbourne effective 1 September 2016.
Established in 2005, Morse Consulting will bring innovative and deep domain investment and wealth sector advisor across areas such as operating model design, service provider selection, set up and operational due diligence, and investment risk management and governance.
Australian Asset Pool to Double
«This is such an exciting time for investment and wealth management in Australia as the potentially $4 trillion sector becomes more complex, more global, and organisations are more in need of specialised expertise to navigate and succeed in the market,» said Cindy Hook Deloitte CEO.
According to Neil Brown, Deloitte Australia national investment and wealth management leader, the wealth sector will continue to be a driver of economic growth for Australia, as highlighted in the Deloitte Building the Lucky Country series research, «Positioning for Prosperity», which predicts Australia’s current assets pool of just over $2 trillion, will double by 2025, and reach $9.5 trillion by 2035, exceeding the size of the banking industry.
The terms of the transaction have not been disclosed.
