Perpetual Guardian finally gets part of Trustees

Andrew Barnes's Perpetual Guardian previously has tried, but failed, to buy Trustees Executors. This time the company has done a deal to buy TE's Private Wealth business which has $2.2 billion in assets under management including $400 million of funds under management.

The Private Wealth business includes its wills, estates and trust administration business. 

The deal does not include Trustees Executors’ Corporate Supervision or Fund Administration divisions.

TE's Private Wealth team operate from within Perpetual Guardian, as the sole provider of services to Trustees Executor’s private wealth clients.