Dion Hershan, managing director of Yarra and head of Australian equities, would become executive chair and head of equities and the search for a new managing director had commenced. Until then, Garvin Louie would take the role on an interim basis.
Nikko AM would become a 20% shareholder in the combined group as a strategic investor, alongside private equity firm TA Associates, and appoint a director to its board while Michael Gordon, non-executive director at Yarra, would join the Tyndall board as chair.
Hershan said: “The transaction will enable us to continue strengthening our partnerships with clients and will provide the additional scale to support greater investment in talent, technology and operational excellence.