Apex Group Announces Successful Acquisition Of Trustees Executors Custody And Investing Accounting Business
Apex Group Ltd. (“the Group”), the global financial services provider, announces the successful completion of its acquisition of Trustees Executors’ custody and investment accounting business. Thus, expanding its New Zealand investment operations footprint.
This strategic acquisition further strengthens Apex Group’s standing as a leading provider of administration and custody services to New Zealand’s investment industry. Further, it will add 37 new employees and $NZ55 billion of assets under custody and administration to Apex Group in New Zealand.
Trustees Executors’ clients will now benefit from Apex Group’s single-source solution, including access to a broad range of services such as capital raising, distribution and administration solutions, as well as pioneering ESG and sustainability services, all of which are being supported by best-in-class technology platforms. As a global service partner, Apex Group offers its clients global perspective and local insight, delivered by its 13,000 plus employees in over 50 countries.
Donna Mason, Apex Group New Zealand Country Head, says:
“We welcome Trustees Executors’ custody and investment accounting team to the Apex Group family, as well as its clients, who will benefit from the efficiencies and new growth possibilities created by our expert global and local teams.
“Apex Group remains committed to expanding access to our offerings for clients. We look forward to further enhancing our technology-enabled solutions to service the asset management industry in New Zealand.”
Rob Russell, chair of Trustees Executors Limited, says:
“We are delighted to announce the successful completion of the transfer of our custody and investment accounting business to Apex Group in New Zealand. Our highly reputable custody and investment accounting services, along with our experienced professionals, will be a valuable asset to Apex Group and provide clients with service continuity. Apex's wider suite of products and services will further benefit our clients, so we are pleased to hand over this business division to Apex Group.”
Bell Gully acted as legal advisors to Apex Group on the transaction.