Standard Chartered has swooped in to purchase metals and mining advisory firm Gryphon Partners for an undisclosed price.

The corporate advisory firm has offices in mining hotspots Australia and Canada and the purchase will significantly bolster Standard Chartered’s mining and metals capabilities.

The Australian arm in particular is well positioned to serve the bank’s strong client base in Asia.

The advisory firm, which was set up in 2003, has shown success in the capital markets and M&A field by participating in around 60 transactions with a total value of US$22bn.

“Gryphon Partner’s transaction experience, deep industry knowledge and corporate relationships will enhance our mining and metals sector capabilities,” says Standard Chartered’s chief executive officer of wholesale banking.

“Together with Gryphon Partners, we will now be able to provide our core footprint clients with high quality advice on opportunities in all our key markets relevant to the mining and metals sector.”

Standard Chartered says that the 22-strong team at Gryphon will be fully integrated into the bank’s corporate finance and client coverage teams, suggesting that there will not be any job losses as a result of the acquisition.

In a joint statement, Gryphon’s co-founders Creagh O’Connor and Rob Greenslade say: “We look forward to becoming part of Standard Chartered and believe there is a strong strategic and cultural fit between our respective teams.

“The partnerships between Standard Chartered and Gryphon Partners will complement our respective strengths and generate significant business growth.”

The deal is similar to the bank’s acquisition of oil and gas advisory firm Harrison Lovegrove in 2007.

Lovegrove had a similar market share to Gryphon at the time of the purchase, with US$20bn-worth of advised transactions under its belt.