New Zealand trustee company Guardian Trust has a new Australian-based owner.Its current owner Australian-based Suncorp Group has sold Guardian Trust to The Trust Company, an Australian trustee company. The price was $NZ42 million.The Trust Company is publ
New Zealand trustee company Guardian Trust has a new Australian-based owner.
Its current owner Australian-based Suncorp Group has sold Guardian Trust to The Trust Company, an Australian trustee company. The price was $NZ42 million.
The Trust Company is publicly listed and Australia's largest independent trustee company.
Suncorp wanted to focus on its life business Asteron and AA Life.
The Trust Company chief executive John Atkin said that Guardian Trust's brand and existing resourcing levels would be maintained, with further investment for future growth in the coming years. John Botica will continue as managing director of Guardian Trust.
Guardian Trust was formed by a special Act of Parliament, the New Zealand Guardian Trust Company Act 1982, that merged the trust operations of South British Guardian Trust, formed in 1882, with the NZI Trust Department, authorised as a trustee company in 1916, according to its website.
