New signing for Aegis
Friday, September 9th 2016, 10:44AM
Aegis, the ASB-owned investment platform, has agreed terms with Bank of China NZ to provide the platform to support its wealth solutions business.
General Manager ASB Securities and Aegis Angela Busby said Aegis was delighted to have the New Zealand subsidiary of Bank of China on board as a customer, and was excited by the opportunities that presented.
"Aegis is a market leader with sustained long-term growth, holding more than $12.5 billion in funds under administration,” she said. “BOCNZ is a significant signing for Aegis as we continue to grow and build our capabilities as a bank-backed provider.”
BOCNZ head of family office Eric Wei said BOCNZ was offering wealth solutions to its New Zealand-domiciled high-net-worth customers and those customers in the process of migrating to New Zealand.
Administration of this wealth solutions business will be outsourced to Aegis.
“The initial focus will be on helping high-net-worth migrant customers to invest in New Zealand-domiciled assets though BOCNZ’s wealth solutions, and will cater for the ongoing wealth needs of the bank’s high net worth customers,” Wei said.
“Aegis has a very good track record of delivering custodial wrap services to the New Zealand market and its bank ownership provides a lot of comfort that there is a strong parent backing the business.”
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