According to the JBL half-yearly, JBFG also consists of: 100% of...

According to the JBL half-yearly, JBFG also consists of:

100% of JB Markets Pty Ltd (formerly Aliom Pty Ltd), acquired 1 August 2016.
80.6% of Kings Currency Exchange Pty Ltd, acquired in two tranches late in 2016.
83.3% of Harnewei Pty Ltd, acquired in two tranches in late 2016

(Harnewei is referred to as an associate as Kings, FWIW)

JB Markets handles the broking for all of these entities. They are also raising funds for the BHD IPO and will get a 0.5% cut of all funds raised.

"The Directors believe there is growth potential in the broking business and that it complements the investment management business of the Company."

Presumably with the recent fintech appointment they're looking at expanding their offerings.

From the BHD prospectus:

"Peter Aardoom is a director of the Company and a director of JB Markets Pty Ltd, which will provide broking services to the Company on arm's length, commercial terms. JB Markets will also be entitled to 0.5% of funds raised under the Offer for management of the trust account, and may be paid fees on arm's length, commercial terms for providing clearing services. Peter has an interest in the Manager of 4.98%"

Incidentally, I got an email from JB Markets last night about an aspect of my BHD application (nothing major).

The only thing that concerns me with today's announcement is whether Stuart is spreading himself too thin.