News

Sovereign sells Reeves Moses to the Australians

Thursday 9th of December 1999
ASB Bank subsidiary Sovereign has sold its financial planning arm Reeves Moses InvestorCare (RMI) to an Australian firm for $6.5 million.

Brisbane-based Harts Group bought RMI as part of its strategy of building a trans-Tasman business that can then be floated on the stock exchange.

Sovereign finance director Richard Coon says the offer from Harts was too good to refuse. He says the...

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