Shaw and Partners adds Macquarie private wealth veteran to its ranks

afr.com:

Shaw and Partners has added a Macquarie adviser to its ranks as part of a push into the private wealth market.

Shaw Partners co-chief executives Earl Evans and Allan Zion. 

Street Talk understands Scott Ayres, a Macquarie Private Wealth veteran is set to jump ship to the wealth house this week. He’s leaving the bank after sixteen years and will report to national head of private wealth George Deva.

Sources said Ayres was a key revenue writer in the Macquarie network, building up a book of high-net-worth and ultra-high-net-worth clients with $275 million in assets under management.

The departure comes amid another hiring spree at Shaw and Partners. Over the past month, the firm has added advisers from rival firms including Stuart Lamont from Citi, Michael Holmes from Canaccord Genuity and Owen Clare and Ernesto Santone from Ord Minnett.

Shaw and Partners offer corporate advisory, institutional dealing, research and private wealth. It is a big player in mid-tier stockbroking and has about $30 billion in assets under advice. Swiss player EFG International owns a51 per cent stake in the business, buying in at a roughly $120 million valuation in 2019.

On the stockbroking side, Shaw recently lost research analyst Danny Younis to registry business Automic Markets. Younis was replaced by Credit Suisse equities research director Larry Gandler who is due to start at the stockbroker in October.