Apex Group Ltd., a leading global financial services provider, has announced it will further expand its New Zealand investment operations footprint by acquiring Trustees Executors’ Custody and Investment Accounting business.

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 BankingFund RaisingDistribution and Administration solutions, as well as pioneering ESG Rating, Reporting and Advisory services.

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Commenting on this, Apex Group founder and CEO, Peter Hughes, said: “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.”

Chair of Trustees Executors, Rob Russell, concluded: “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.”