Sharechat Logo

Guardian Trust sale unconditional

Tuesday 15th March 2011 1 Comment

Text too small?

The Overseas Investment Office (OIO) has approved the sale of corporate trustee Guardian Trust to an Australian trustee company.

The sale by Australian-based Suncorp Group to The Trust Company, for NZ$42 million, took effect on March 1 conditional on OIO approval.

John Botica will continue as managing director of Guardian Trust, and the company will continue to trade under its existing name.

The 125-year-old company has $6.5 billion in clients' assets under administration, and supervises a further $58 billion in assets as corporate trustee.

The Trust Company is publicly listed and Australia's largest independent trustee company.

Suncorp sold Guardian Trust to focus on its life businesses Asteron and AA Life.



  General Finance Advertising    

Comments from our readers

On 16 March 2011 at 11:54 am Ivan said:
Oh well a name change may help it to fight against all the upcoming legal fights this company has, for not doing its job properly in the finance company collapses.
Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Scott Technology Limited (NZX: SCT) Announces FY21 Results
21st October 2021 Morning Report
Greenfern Industries Limited (NZX: GFI) L&Q Notice
TruScreen Group Limited (NZX: TRU) Clinical Trial Results Highlight Efficacy of TRU Technology
20th October 2021 Morning Report
Freightways Limited (NZX: FRE) Acquisition of ProducePronto
19th October 2021 Morning Report
PGG Wrightson Limited (NZX: PGW) Guidance Update
Vital Limited (NZX: VTL) Provides Update on PSN LMR
18th October 2021 Morning Report