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
ASIC has banned a former AFSL director after he failed to adequately address fees-for-no-service conduct by one of his firm’s representatives.
The Financial Advice Association Australia has appointed two new board members following two weeks of voting, as well as one re-elected member.
Advice licensee Bombora has introduced a board of six financial advisers from its national network to ensure industry voices are heard collectively on future decisions.
Technology firm Iress and investment manager Challenger have formed a strategic partnership to launch an adviser solution to better serve their retiring clients.
