Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Jacques Martin’s funds under administration

1 June 2005

New business doubles Jacques Martin’s funds under administration

Jacques Martin has taken on the administration business of ASB Group Investments (ASBGI), doubling the business processing specialist’s funds under administration to $10 billion. Jacques Martin is an independently managed company within the ASB Group.

“Bringing on ASBGI as a client is great for our business,” says Jacques Martin Chief Executive Mark Patton. “We see it as a turning point in New Zealand of financial services companies embracing outsourcing as a way forward.”

Mr Patton says this move is in tune with the international trend towards businesses contracting out non-core functions.

“It really demonstrates the outsourcing market is exploding here as it is overseas,” he says.

Acquiring this new business means Jacques Martin now provides administration services in some form to all the major banks in New Zealand as well as many of the country’s other leading financial services companies. This reinforces Jacques Martin’s position as the leading business process-outsourcing provider in the financial services sector.

“It will create scale efficiencies for current and future clients. It will also help broaden our service offering enhancing significantly our capabilities in the areas of unit pricing and fund accounting,” says Mr Patton.

Jacques Martin will take on ASBGI’s Auckland administration and fund accounting teams, giving the Wellington-based company a significant Auckland presence.

“We will work in partnership with ASBGI’s managed funds business, as we do with other clients, to help them manage their costs more effectively and deliver great customer service.”

Jacques Martin has been operating in New Zealand since 1985 and became part of the ASB Group following the merger of Colonial with the Commonwealth Bank of Australia in 2000. Across the full range of its clients’ financial products, Jacques Martin now provides administration services to more than 420,000 New Zealanders.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news