Rabo advisory moves north
(27 June 2008 – Australia) Rabobank has announced that it will expand its financial advisory arm into Queensland with the acquisition of Dayas Financial Services.
Rabo Financial Advisors Ltd has purchased the customer portfolio of Dayas. It will also bring on board its entire staff, including principal advisor Perry Dayas.
Rabobank Australia & New Zealand chief executive officer, Bruce Dick, said that the overall strategy of the bank was to grow the financial advisory business across Australia and New Zealand.
He added that the method for doing this was to gain scale and presence in each of the major cities.
The Dayas acquisition, he said, immediately gives Rabo a strong presence in Queensland. The advisory business will continue to be based in Toowoomba.
Head of RFA, Colin Williams, said that the bank has plans to bolster its presence in New South Wales and Western Australia in addition to pursuing opportunities in other states and New Zealand.
He said that the expansion will be done through a combination of acquisitions and organic advisor growth. The bank aims to secure similar businesses over the next 12 months.
RFA was established in 2002 by Rabobank, the second largest lender to rural Australia, to provide specialist financial advisory services primarily to the rural and regional community.
Rabobank Australia & New Zealand chief executive officer, Bruce Dick, said that the overall strategy of the bank was to grow the financial advisory business across Australia and New Zealand.
He added that the method for doing this was to gain scale and presence in each of the major cities.
The Dayas acquisition, he said, immediately gives Rabo a strong presence in Queensland. The advisory business will continue to be based in Toowoomba.
Head of RFA, Colin Williams, said that the bank has plans to bolster its presence in New South Wales and Western Australia in addition to pursuing opportunities in other states and New Zealand.
He said that the expansion will be done through a combination of acquisitions and organic advisor growth. The bank aims to secure similar businesses over the next 12 months.
RFA was established in 2002 by Rabobank, the second largest lender to rural Australia, to provide specialist financial advisory services primarily to the rural and regional community.
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