Hartley Poynton spins off tech arm
Hartley Poynton is to spin off its e-commerce division and relaunch it as a provider of e-commerce and outsourcing solutions for financial services groups.
Hartley Poynton is to spin off its e-commerce division and relaunch it as a provider of e-commerce and outsourcing solutions for financial services groups.
To be called JDV, the new group will focus solely on providing back office services for busi-nesses offering online share and managed funds trading.
Its clients already include AMP, BT Portfolio Services, BankWest, Quicken, Solution 6, St As-gard and Your Prosperity. As well as domestic equities, JDV's Internet transaction engine sup-ports trading in unit trusts, bonds and international equities. It also provides back office services for margin lending, mortgage broking, portfolio management and tax administration.
Hartley Poynton has also struck a deal with US-based Automatic Data Processing for JDV to act as a development partner for share broking processing services in Australia and New Zealand.
Hartley Poynton chief executive Tim Moore says the group will trade under two distinct brand names, Hartley Poynton and JDV.
"By establishing the JDV brand for the e-commerce business and changing the name of the listed entity to HP JDV, we are sending a clear signal to the market about the importance we place on both areas of our business," he said.
The group's investment banking and brokerage business will continue to trade under its existing Hartley Poynton brand name.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
