Acuity Partners rebranded as HNB Investment Bank after full acquisition

Ray Abeywardana (left) and Damith Pallewatte announcing the new re-branding effort. Pic by Nimalasiri Edirisinghe

Hatton National Bank PLC (HNB) yesterday announced the rebranding of Acuity Partners (Pvt) Ltd as HNB Investment Bank (Pvt) Ltd, following its complete acquisition of the securities firm.

The official announcement follows the divestment of the 50 percent stake in Acuity Partners held by DFCC Bank to HNB for Rs. 6.5 billion last month. 

The rebranded HNB Investment Bank will offer a comprehensive range of services, including mergers and acquisitions, debt and equity capital market services, and advisory solutions,” the HNB Investment Bank said in a statement.

“The acquisition marks a strategic move by HNB to align the investment bank’s operations with its long-term growth objectives, leveraging its strong financial foundation and expertise to expand its footprint in the financial services industry both in Sri Lanka and overseas,” said HNB Managing Director and CEO Damith Pallewatte. Acuity Partners operated as a joint investment company between HNB and DFCC where it managed several subsidiaries offering a variety of financial services. 

These included Acuity Partners (Pvt) Ltd, which specialised in corporate finance and advisory services, Acuity Securities Ltd, dealing with government securities and Acuity Stockbrokers (Pvt) Ltd, a member firm of the Colombo Stock Exchange (CSE). The group also included LVL PLC and LVEF PLC two venture capital firms focused on investments in the energy sector.

HNB Investment Bank shared it has plans to roll out a wealth management proposition by the end of the year to offer investors customised financial solutions. The entity is open to collaborating with fintech companies and expects significant investments to this segment in the future. (NR)