insto - Australian financial markets

Listed Brisbane-based brokerage Wilton HTM has a new chief executive with the promotion of David Groth and a settlement with major shareholder Deutsche Bank. Wilson HTM has agreed to pay Deutsche, which holds a 19.9 percent stake in the company, $2.5 million a year as a percentage of its profit for the past four and a half years. The firm has lead managed, co lead managed and underwritten $3.4 billion in IPOs since 2005 as well as being involved in A$5.2 billion in M&A transactions. Two Deutsche Bank directors will stay on the Wilson HTM board.