It was Jonathan Binns (JB) Were who founded stockbroking business Were Brothers & Co (later JBWere & Co) in 1840, after arriving in Melbourne from England a year earlier.
In 1989, JBWere purchased 50% of Jordan Sandman Smythe and then acquired the remaining 50% in 1994, establishing JBWere New Zealand.
All Black great Ron Jarden, who played 37 times for the All Blacks including 16 tests, founded his stockbroking business RA Jarden & Co in 1961.
In 1988, the firm merged with Deak Morgan to create Jarden Morgan, expanding into fixed income sales and trading, corporate finance and research activities.
In 1990, Credit Suisse First Boston acquired a stake in Jarden Morgan and the firm was renamed First New Zealand Capital (FNZC). Twelve years later, management acquired the business from CSFB (then known as Credit Suisse) to create an independent firm while maintaining a strategic alliance.
In 2003, JBWere combined with the Australasian operations of global investment bank Goldman Sachs to establish Goldman Sachs JBWere.
In 2009, National Australia Bank Ltd (NAB) acquired an 80% shareholding in the private wealth division of GS JBWere which grew to to be 100% in 2016, resulting in JBWere’s broking business being wholly owned by NAB.
FNZC rebranded as Jarden in 2019 and the following year expanded its offering into Australia. At the same time, the strategic alliance between Jarden and Credit Suisse ended.
In 2023, JBWere’s shareholder, NAB, and Jarden combined their New Zealand wealth management and asset management businesses into a new entity, FirstCape, in which NAB, Jarden and Pacific Equity Partners were major shareholders.
This year, Jarden Wealth and JBWere consolidated their businesses under one brand, JBWere NZ. FirstCape is the parent company of JBWere NZ, and it is no longer a member of the NAB group. — Allied Media
