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Richard Goldsbrough formed a wool broking firm in Melbourne in 1848. In 1881 it merged with the Australian Agency and Banking Corporation Ltd to become R Goldsbrough and Company Limited. The purchase in 1888 of the Sydney firm Mort and Company Limited, established in 1843 by Thomas Mort, led to a change of name to Goldsbrough Mort and Company Limited. It kept this name until the merger with Elder Smith and Company Limited in 1962 which formed Elder Smith Goldsbrough Mort.