Feb 23, 2024
Perpetual Guardian Group has acquired the Private Wealth division of Trustees Executors Limited for an undisclosed sum.
The transaction will see Trustees Executors’ Private Wealth team operate from within Perpetual Guardian, as the sole provider of services to Trustees Executor’s private wealth clients.
The acquisition does not include Trustees Executors’ Corporate Supervision, or Fund Administration divisions.
Trustees Executors’ clients will continue to receive quality, personalised service within the Perpetual Guardian Group of companies, along with additional access to a wide network of specialist services. They will also benefit from Perpetual Guardian’s recent investments in systems and technologies, helping them deliver market-leading services to the private client sector.
Patrick Gamble, Perpetual Guardian Group CEO, says, “Perpetual Guardian and Trustees Executors are the two longest-serving trustee companies in New Zealand, with deep client relationships across the country, spanning decades and generations. I look forward to spending time with those clients and personally welcoming them into the Perpetual Guardian Group in the coming weeks. It is a significant milestone for our industry to combine the strengths of these two private client businesses.”
Andrew Barnes, Perpetual Guardian Founder, says, “It has been my passion over the last decade to grow and maintain a focus on meeting the needs of all Kiwis. Alongside our expanded retail offering, we’re continuing to grow our specialist services to high-net-worth clients, including those requiring multigenerational, complex wealth management, fiduciary, and philanthropic services. Adding the Private Wealth team from Trustees Executors will further enhance this capability.”
Rob Russell, the Chair of Trustees Executors, says, “Trustees Executors and Perpetual Guardian have a long-serving history in New Zealand. We have shared values and are committed to providing best practices and continued improvement within our sector. I am confident that our private clients will continue to receive the same specialised services they are accustomed to and rely upon from our private wealth services. The ability for our private clients to now have access to a wider network of resources and expertise provided by the broader Perpetual Guardian Group is a real benefit."
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For more information or any media enquiries, please contact
Laura Air
Alexander PR
+64 21 259 3242
[email protected]
The Perpetual Guardian Group is New Zealand’s premier provider of the full suite of estate planning services including Wills, Trusts, Enduring Powers of Attorney, Investment Advisory and Philanthropic ventures.
Our origins date back more than 140 years, and today we have offices nationwide, with over 125,000 client relationships and administering or supervising assets valued over $6 billion. Innovation, fiduciary expertise and a rich history go hand-in-hand at Perpetual Guardian Group and we also stand as New Zealand’s largest Trustee for Charitable Trusts – supporting clients in their familial, financial and philanthropic goals.
The Perpetual Guardian Group comprises organisations offering complementary specialist services to support clients at all stages of life, including Perpetual Guardian, Perpetual Guardian Investments, New Zealand Trustee Services, and Givealittle.
Trustees Executors Limited was established in 1881 and is New Zealand's longest-standing Trustee Company. For over 140 years, Trustees Executors has provided individuals and families 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.
Today, Trustees Executors are one of the largest Corporate Supervision teams in New Zealand, overseeing the supervision and administration of client investment assets above $210 billion in New Zealand dollars. Their Fund Administration division provides expert services in custody, registry, investment accounting, unit pricing, and reporting services, with over $36 billion in New Zealand dollars of assets under their administration.