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ASB confirms sale of Aegis
Thursday 10 October 2019
ASB has sold its
investment administration and custody businesses, Aegis
Limited and Investment Custodial Services Limited (together
“Aegis”) to MMC.
The transaction announced today comes after a recent strategic review of Aegis, which as ASB’s Executive General Manager, Private Banking, Wealth and Insurance Adam Boyd explains, provided an opportunity to gauge the best options for Aegis’s continued success.
“Aegis is a good business which requires continued investment and strategic management focus to ensure its customers continue to receive excellent levels of service in the future. As part of this review, we came to understand that Aegis would be best placed to grow and serve the interests of its customers under a new owner with a specialised focus.
“Essential to the success of Aegis is its people, and that has been a key consideration with MMC committed to investing for long-term success, and committing to offer employment to all Aegis employees,” says Boyd.
Aegis’ employees and customers have been informed of the sale.
ASB will continue to use the Aegis platform.
Details of the sale are confidential.
ENDS
ASB Bank
Helping you get one step ahead.
In 1847, ASB opened as the Auckland Savings Bank with the pledge: 'to serve the community; to grow and to help Kiwis grow'. And that is very much what ASB is about today.
ASB is a leading provider of integrated financial services in New Zealand including retail, business and rural banking, funds management and insurance.
ASB strives to consistently provide its customers with outstanding service and innovative financial solutions. They're dedicated to providing simple financial products that allow their customers to bank with them how and when they want.
We all have our own ways to measure progress, and our own stories about the things that matter to us. Whatever way you choose to measure progress, and whatever your goals, ASB is there to help you get one step ahead.
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