Trustees Executors offers financial services to the corporate sector through corporate supervision trustee services and fund administration services.
The coming together of these two businesses strengthens Apex Group’s ability to provide a full suite of administration services to New Zealand’s investment industry.
Completion of the acquisition is conditional on the satisfaction of customary conditions for a transaction of this nature. It will see Trustees Executors’ Custody and Investment Accounting business and people transfer to Apex Group, while ensuring this is seamless from the perspective of investment managers and their end clients.
The acquisition does not include Trustees Executors Corporate Supervision or Registry divisions.
As part of Apex Group, Trustees Executors’ clients will benefit from access to the Group’s global single-source solution, providing all services required across the full value chain of their business via one convenient and efficient relationship. This includes Apex Group’s Digital Banking, Fund Raising, Distribution and Administration solutions, as well as pioneering ESG Rating, Reporting and Advisory services.
Peter Hughes, Founder and CEO Apex Group, says:
“Apex Group is a leading global financial services provider offering a full suite of services to the industry. In New Zealand, our administration and custody business services the asset manager and KiwiSaver segments of the market. The addition of Trustee Executors’ solutions and people, provides further capability, efficiency and investment into the investment administration market in New Zealand. Our clients and team members are at the heart of everything we do, and we are excited to welcome Trustees Executor’s team into Apex Group.”
Rob Russell, the Chair of Trustees Executors, says:
“Apex Group shares our purpose and mission of empowering the financial futures of New Zealanders by providing exceptional administration solutions to safeguard and foster wealth creation. As a well-established company with a domestic and global presence, there are positive benefits for our employees, clients, and their investors or members becoming part of Apex Group.”
Financial terms of the transaction are not disclosed.
Bell Gully provided deal counsel to Apex Group.
About Apex Group
Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With over 13,000 employees globally, Apex Group provides services into 50 jurisdictions delivering an expansive range of services to asset managers, financial institutions, private clients, and family offices. The Group has continually improved and evolved its capabilities to offer a single-source solution through establishing the broadest range of services in the industry; including fund raising solutions, fund administration, digital onboarding and bank accounts, depositary, custody, super ManCo, corporate services and a pioneering ESG ratings and advisory solution. Apex Group’s purpose is to be more than just a financial services provider and is committed to driving positive change to address three core areas; the environment and climate change, women’s empowerment and economic independence, education and social mobility.
In New Zealand Apex, the Apex Group is comprised of three key business lines, being Apex Investment Administration NZ Limited, FundRock NZ Limited, and InvestNow. Apex Group has over 150 people in New Zealand with offices in both Auckland and Wellington and works with a number of New Zealand’s leading investment managers and KiwiSaver Scheme providers.
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Chanel Townsend | Chanel.Townsend@apexgroup.com | +447391046830
About Trustees Executors Limited
Trustees Executors Limited was established in 1881 and is Aotearoa, New Zealand's longest-standing Trustee Company. For over 140 years, Trustees Executors provided individuals and families with financial, estate planning, and trust solutions. For over five decades, Trustees Executors has provided services to the corporate sector through corporate supervision trustee services, and fund administration services.
Trustees Executors administers over $225 billion of client investment assets through its Corporate Supervision and Registry divisions.
