|Founder(s)||J. William Burdett|
Sales & Trading
Broker Dealer Services
BBY Ltd is an Australian stock broking, corporate advisory and asset management firm. It is the largest non-bank owned stockbroker in Australia and New Zealand by market share. The group provides financial and advisory services to emerging companies and their investors including corporate finance, research, sales & trading, asset management and broker dealer services. By 2010, BBY averaged client orders per day greater than A$150 million, placing it as Australia's fourth-largest domiciled stockbroker. As of June 2012, BBY was ranked 10th overall in Australia by equity volume.
BBY, formerly known as Burdett Buckeridge Young Limited, was established in 1987 by three former A.C. Goode & Co. brokers, in conjunction with the State Bank of Victoria. The acquisition of State Bank by the Commonwealth Bank of Australia in the early 1990s saw the disposal of their interest and subsequently Jefferies & Co. acquired an equity stake in the firm.
Since then, BBY has established institutional broking and capital raising services on the back of its research platform. The company’s Head Office is in Sydney with offices in Adelaide, Auckland, Gold Coast, London, Melbourne, New York, Perth and Wellington.
In 2005 the Australian Securities and Investments Commission issued a warning against BBY for allegedly failing to manage conflicts of interest for publishing positive research about a corporate client it was advising. ASIC imposed special conditions on BBY's financial services licence.
In 2006, the company completed the acquisition of Jaguar Asset Management Ltd. Two years earlier, in 2004, the two companies had entered into a strategic alliance, under which Jaguar managing director Glenn Rosewall was appointed chief executive officer of BBY.
In 2008, the company also won the Best Corporate Deal of the year in The Australian Stockbrokers Foundation Hall of Fame 2008. Soon afterwards, BBY established a partnership with CIMB, Malaysia's second largest financial services provider, and fifth largest in Southeast Asia by total assets.
In 2011, BBY acquired the private client advisor network from Australian-based StoneBridgeGroup. Combined, BBY and StoneBridge's private client businesses host more than 80 advisers, plus support staff. Services offered include equities and options trading, futures, warrants, over the counter trading, currency, funds management, portfolio administration and reporting. Shortly after completing the StoneBridge acquisition, BBY began self-clearing with GBST's equities clearing and settlement platform, Shares. BBY moved to the fully integrated version of GBST Shares, which includes derivatives, shares, risk, front office and infrastructure hosting and is expected to provide greater scale for the BBY business. BBY continued to rank ninth in the "Best Overall Investment Bank" survey by East Coles.
- J. William Burdett Profile. Forbes
- BusinessWeek BBY Limited Company Overview
- http://www.bby.com.au/Portals/0/BBY/PDF/News/Resource%20Stocks%20Magazine%2027jul10.pdf, Client Relationships The Highest Order - Resourcestocks Magazine
- Chinese wall fails: ASIC intervenes at broking house. Sydney Morning Herald, 22 September 2005
- Jaguar Funds About Us
- Rosewall takes BBY post in Jaguar deal. Sydney Morning Herald, 18 September 2004
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- "BBY expands with Stonebridge acquisition". Financial Standard. 2011-06-14. Retrieved 2012-06-15.
- "Broker BBY Limited Begins Self-Clearing with GBST Platform - GC Australia". Australia.globalcustodian.com. 2012-06-06. Retrieved 2012-06-15.
- BBY team win Sydney to Gold Coast Yacht Race in 40 Foot Division
- BBY ranked in Top 20 ‘Best Overall Investment Bank' BBY Ltd Media Release
- Revamp for BBY as chair leaves. The Australian, 19 April 2005
- A Big Year For Financial Group. Resourcestocks Magazine.
- BBY taking Australian resources global. Resourcestocks Magazine.