Perpetual sheds corporate trust business in management buy-out

Fri, 28 Sep 2012

By Paul McBeth Sept. 28 (BusinessDesk) - Pyne Gould Corp-owned Perpetual Group has shed its corporate trust unit in a management buy-out for an undisclosed sum. Perpetual risk management executive Kim von Lanthen has bought the corporate trust business, which supervises almost 300 entities including KiwiSaver funds, retirement villages, securities issuers and managed funds, and his new entity will operate as Foundation Corporate Trust. Perpetual will retain responsibility for entities that are in receivership or liquidation, though Foundat...

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