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Tricor Group acquires NZGT Holding Company Limited

Tricor Group (Tricor), an Asian business expansion specialist, has received regulatory approval and completed its acquisition of NZGT Holding Company Limited (NZGT Holdings) together with its wholly owned subsidiaries The New Zealand Guardian Trust Company Limited (Guardian Trust) and Covenant Trustee Services Limited (Covenant) from Complectus Limited.

Tricor is the largest pure-play corporate services platform in Asia Pacific, serving over 50,000 client entities across its 21-market footprint. A positive move for Guardian Trust and Covenant, this acquisition will see the group and its New Zealand clients benefit from Tricor’s significant financial backing and global best practices.

Guardian Trust and Covenant are the leading providers of corporate supervisory services with over NZD250 billion in funds under supervision. Guardian Trust has operated in New Zealand for over 125 years. Guardian Trust and Covenant will continue to grow its team and capabilities through further investment by Tricor Group. Day to day operations remain unchanged.

Tricor’s Global Corporate Trust business will operate and serve clients across five global markets including Hong Kong SAR, Beijing, Singapore, the UK and New Zealand.

Lennard Yong, Tricor Group CEO, says: “I am pleased to welcome Guardian Trust and Covenant to Tricor Group. This acquisition broadens our footprint in ANZ and places Tricor in an enhanced position to better serve our clients. The addition of Guardian Trust and Covenant significantly strengthens Tricor’s global corporate trust practice with market-leading and differentiated trust solutions in New Zealand and across Australasia and Asia-Pacific. We are very grateful for the approval to be stewards of these two leading institutions. Our goal is to support the management team led by Harry Koprivcic and to grow these businesses within their respective markets and to add to our regional corporate trust platform in Asia Pacific.”

David Naphtali and Jonathan Hatch, Co-Managing Directors of Madison Pacific, A Tricor Company, leading the integration of Guardian Trust and Covenant into the Tricor Corporate Trust Business Division, said: “We look forward to working with the fantastic team to bolster the corporate trust solutions we can provide our corporate clients across Asia Pacific and the UK.”

Harry Koprivcic, CEO of NZGT Holdings, says: “As a leading corporate trustee in New Zealand, we are starting a new chapter by becoming part of a large global entity. Enhanced by the capabilities of Tricor, we will continue to deliver exceptional corporate solutions to our clients.”

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