We are pleased to announce that our parent company IOOF Holdings Limited (IOOF) has entered into an agreement with National Australia Bank Limited to acquire 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.
A strong strategic fit
This acquisition reinforces our national presence as a specialist trustee services provider. We will become one of Australia’s largest compensation trust providers and secure 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.
For more information you can read the full media release here.