Perpetual sells NZ Guardian Trust Company



Perpetual announced today the sale of the New Zealand Guardian Trust Company to Complectus for $AUD63.3 million.
The sale of Guardian Trust was simultaneously executed and settled for 100 per cent cash consideration, according to an announcement made on the Australian Securities Exchange (ASX).
The announcement said the divestment of the New Zealand business would not impact Perpetual's previously stated synergy estimates of at least $15 million per annum after tax from The Trust Company integration.
This move follows Perpetual's acquisition in December last year of The Trust Company, which owned Guardian Trust. The New Zealand business was considered non-core to Perpetual's strategy and best placed with an experienced local owner to take the business forward, the ASX announcement said.
Perpetual chief executive and managing director Geoff Lloyd described the outcome as good, as it allowed Perpetual to maintain momentum on its Transformation 2015 strategy.
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.