Ausbil moves closer to Dexia
Australia’s three-year old fund manager — Ausbil Partners - has changed its name to Ausbil Dexia to better reflect its links to European banking group Dexia.
Australia’s three-year old fund manager — Ausbil Partners - has changed its name to Ausbil Dexia to better reflect its links to European banking group Dexia.
Dexia is the parent company of Banque International a Luxembourg (BIL), a 51 per cent joint venture partner in Ausbil Dexia. The other 49 per cent is held by the local management team.
Chief executive Reub Hayes says: “The name change simply reflects the aggressive expansion strategy being implemented by Dexia around the world. The change to Ausbil Dexia aims to unify that presence, underline the Dexia reputation and strengthen the cohesion of the group in all of its markets.”
Ausbil Dexia is a part of the BIL operations arm which leads the group’s private banking, asset management and funds administration businesses.
In its three years on Australian soil, Ausbil Dexia has grown funds under management to $1.4 billion dollars, predominantly in the wholesale superannuation market. Ausbil’s investment team structure and processes will remain unaffected by the name change.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
