Perpetual acquires specialist debt markets and advisory business

The listed wealth management group announced the acquisition of Laminar Capital on Tuesday, as well as its specialist fixed income digital platform, Treasury Direct, which has $21 billion of assets under administration.

PCT’s data and analytics solution business will now operate as a standalone division and move forward as Perpetual Digital, which will bring together all of its digital assets added with Laminar’s Treasury Digital and create a specialist business for advisory solutions to clients, treasury and debt markets.

PCT group executive Richard McCarthy said Treasury Direct is one of the most attractive components about Laminar’s business.

“The combination of our two digital platforms, Perpetual Intelligence and Treasury Direct, will provide the ability to deliver a broader range of digital, treasury and debt market solutions to our existing clients and future clients, while accelerating the build-out of our digital product offering,” Mr McCarthy said.

The acquisition will also provide Perpetual Corporate Trust (PCT) access to Laminar’s ESG risk score to support the public and mutual bank sector.

Perpetual CEO and managing director Rob Adams said the group has identified a fast-growing business with a “compelling” digital capability.

“A capability that provides us with a unique opportunity to accelerate PCT’s position as a specialist fiduciary and digital solutions provider to the banking and financial services industry,” the CEO said.

Laminar’s 13 specialists, which includes nine advisers, will be retained, while its founding principal and managing director, Cameron Rae, will also stay on.

Mr Rae said Laminar is excited to join PCT on its innovation journey.

“Perpetual’s trusted heritage, strong client relationships and deep capabilities allow us to further deliver market-leading and efficient solutions for our clients,” Mr Rae said.

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.