Andrew Barnes
Andrew Barnes
It will seek a dual listing in New Zealand and Australia, and intends to complete the listing in late 2016.
Perpetual Guardian has over $130 billion of assets under supervision, and has significant growth potential as the country’s aging population increases its demand for fiduciary services.
Founder Andrew Barnes says the business is now well-positioned, having consolidated the New Zealand fiduciary services market in recent years. “As a proud New Zealand company with over 130 years’ experience, it is important to us to list in New Zealand. The market is in good health, investors are hungry for new listings and we expect plenty of interest in a quality fiduciary services business with a significant market share and great growth prospects. Perpetual Guardian is performing strongly and has a very capable and experienced senior management team, led by our chief executive Grant Kemble.”
Kemble said about half of all New Zealanders and 70% of those under 40 did not have a will.
"Our experience also suggests that up to 85% of New Zealand trusts fail to comply with the required standards. These figures are obviously a concern, but they show the important role Perpetual Guardian can play in helping New Zealanders ensure their wealth is properly protected.
“Perpetual Guardian leads New Zealand’s fiduciary services sector. As the trustee for several of New Zealand’s largest financial institutions, including the majority of major KiwiSaver providers, Perpetual Guardian protects the investments of ordinary New Zealanders in everything from bonds, to shares, to retirement village units. We are the leading provider of statutory supervisory services in New Zealand and, with increasing regulatory requirements, we expect the strong demand for our services to continue to grow.”
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