The wealth management, brokerage, and capital markets company completed its acquisition of a London based specialist brokerage and research firm.
Hong Kong-based Sun Hung Kai Financial (SHKF) has acquired London-headquartered specialist brokerage and research firm North Square Blue Oak (NSBO) for an undisclosed sum.
The deal, for 100 percent of NSBO, enables SHKF to conduct institutional brokerage, specialist research and corporate finance businesses in the U.K. According to a press release on SHKF's site the acquisition has been approved by U.K. regulators and NSBO has been renamed Sun Hung Kai Financial (UK).
A Two Way Street
SHKF is 70 percent owned by Chinese securities company Everbright Securities Company (Everbright). The acquisition will now enable Everbright to expand its business to European markets and develop its international sales and transaction networks. The acquisition will also allow SHKF British clients to benefit from its new owners’ China research and execution capabilities.
The company and its subsidiaries had approximately $12.35 billion in assets under advice as of 31 March 2017.
