ASB reviews ownership of Aegis

Tue, 21 May 2019

By Gavin Evans May 21 (BusinessDesk) - Commonwealth Bank of Australia-owned ASB is considering selling its Aegis investment administration business. The firm, started by Sovereign Insurance and 1996 and part of ASB since 1998, administers about $15.2 billion local and offshore investments on behalf of banks, brokers, trustee companies and fund managers. Adam Boyd, ASB’s executive general manager for private banking, wealth and insurance, says the aim of the review is to test whether Aegis can better grow and improve its service to cust...

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