Aegis, the ASB-owned investment platform, is pleased to announce it has agreed terms with Bank of China NZ (BOCNZ) to provide the platform to support its wealth solutions business.
ASB General Manager ASB Securities and Aegis Angela Busby says Aegis is delighted to have the New Zealand subsidiary of Bank of China on board as a customer, and is excited by the opportunities this presents for BOCNZ and Aegis.
"Aegis is a market leader with sustained long-term growth, holding more than $12.5 billion in funds under administration,” Ms Busby says.
“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 says BOCNZ is 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,” Mr Wei says.
“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.”
• Aegis is an investment administration platform that operates independently within ASB.
• It holds, administers and reports on a wide range of local and offshore investments.
• Aegis clients include banks, brokers, trustee companies, fund managers and independent financial advisors.
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