We are pleased to announce that our parent company IOOF Holdings Limited (IOOF) has completed the acquisition of National Australia Trustees Limited (NATL). This will become part of Australian Executor Trustees Limited (AET). The purchase includes NATL’s Personal Trustee business and select trustee arrangements in their Corporate Trustee business.
Enhanced scale and national presence
This acquisition reinforces our national presence as a specialist trustee services provider. We are now one of Australia’s largest compensation trust providers. The acquisition has also increased our geographic footprint by securing a bigger presence on the east and west coasts of Australia.
The decision to acquire NATL demonstrates IOOF’s commitment and belief that all Australians should have access to professional trustee services as part of their wealth planning. The increased scale will enable us to continue offering a range of flexible and unbundled trustee services that meet the changing needs of financial advisers and their clients.
Over the past months, we have worked closely with IOOF and NAB to ensure a seamless transition for NATL clients and we welcome the new staff who have joined us from NATL.
For more information you can read the full media release here.