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ASB announces strategic review of Aegis
Tuesday 21 May 2019
ASB has made a decision to
undertake a strategic review of its investment and custody
businesses Aegis Limited and Investment Custodial Services
Limited (together “Aegis”).
Aegis has experienced strong and sustained growth in funds under administration (FuA) and is now one of New Zealand’s largest investment administration firms.
The purpose of the strategic review is to assess whether Aegis can grow and better serve the interests of its customers under ASB’s ownership, or if Aegis’ potential could be better realised under new ownership.
“Aegis is in great shape thanks to strong and sustained funds under administration growth and robust leadership. The strategic review is about enabling the ongoing success of Aegis by ensuring its customers continue to receive excellent levels of service in the future. The review will assess if this is most likely to be achieved under ASB or another owner. Aegis remains committed to excellent service levels for our customers throughout the strategic review process,” said Adam Boyd, ASB executive general manager, Private Banking, Wealth and Insurance.
Aegis’ employees and customers were informed of the strategic review today.
Ends
ASB Bank
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In 1847, ASB opened as the Auckland Savings Bank with the pledge: 'to serve the community; to grow and to help Kiwis grow'. And that is very much what ASB is about today.
ASB is a leading provider of integrated financial services in New Zealand including retail, business and rural banking, funds management and insurance.
ASB strives to consistently provide its customers with outstanding service and innovative financial solutions. They're dedicated to providing simple financial products that allow their customers to bank with them how and when they want.
We all have our own ways to measure progress, and our own stories about the things that matter to us. Whatever way you choose to measure progress, and whatever your goals, ASB is there to help you get one step ahead.
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