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Macquarie takes 20% stake in Paradigm Norton

Macquarie Bank Limited has taken a minority stake of just under 20 per cent in Paradigm Norton Financial Planning.

Paradigm Norton says the strategic partnership will provide it with the necessary capital to fund its future growth plans, and meet any new capital adequacy requirements.

Existing Paradigm Norton directors will retain full responsibility for ongoing management and strategy.

Paradigm Norton chief executive Barry Horner says: “In developing our growth strategy, we quickly realised the opportunity for us to find a partner that could not only provide additional investment capital but also had the relevant skills and experience in growing financial planning businesses that we could tap into.

“We think that this is a great opportunity for our business, our clients and our team and will support our future growth.”

Macquarie head of banking and financial services UK Jason Huddy says the firm remains “open minded” about further investments in fiancial planning firms.

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