Equity Trustees buys ANZ Trustees for $150M
11/04/2014 09:35:00
This video is not supported on your device. Click here for the original version.
Chairman Tony Killen says the acquisition cements the company as Australia’s largest independent ASX listed company with a dedicated trustee service.
Equity Trustees believes the combined businesses will have higher margins, significant cost synergies and revenue growth opportunities.
Both Equity Trustees and ANZ Banking Group (ASX:ANZ) have also entered into an exclusive long term referral relationship .
Equity Trustees reported a net profit of $5.4 million in the first half of the 2014 financial year.