Perpetual acquires Wignalls mortgage business
Perpetual has further expanded its Corporate Trust division by acquiring the business operations of Adelaide-based national mortgage settlement company, Wignalls Lenders Mortgage Services.
The acquisition was confirmed to the Australian Stock Exchange today, with Perpetual’s group executive, corporate trust, Phil Vernon saying it represented part of a strategy to provide a comprehensive range of services to the securitisation and lending markets.
“Securitisation market growth and increased outsourcing by bank and non-bank institutions has led to the demand for a provider who can meet all the needs of clients under the one roof,” he said. “The acquisition of Wignalls adds an important capability to our service offering.
The Wignalls business will be re-branded as Perpetual Mortgage Services, with all employees of Wignalls being offered employment with Perpetual.
AUTHOR
Mike Taylor
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