Investec’s Australian subsidiary has bought NM Rothschild & Sons (Australia). Investec said in a statement that the transaction amounts ...

Investec’s Australian subsidiary has bought NM Rothschild & Sons (Australia). Investec said in a statement that the transaction amounts to less than 5 per cent of the Investec group’s combined market capitalization, but gave no further details. NM Rothschild & Sons (Australia) has total assets of approximately A$2.1 billion ($1.5 billion) and is principally involved in property, resources, infrastructure, commercial finance, acquisition finance and treasury activities operating in Sydney, Melbourne and Perth. Investec’s chief executive Stephen Koseff said the acquisition reinforced the group's commitment to further expand into the Australian market place. "Through this acquisition, Investec in Australia adds depth to current expertise across all business units as well as benefits from new opportunities for us to deliver tailor-made solutions to clients.”